Concern about slowing growth in China and other global macroeconomic events promoted the surprise announcement. This was the first cut since 2008.
Showing posts with label interest rates. Show all posts
Showing posts with label interest rates. Show all posts
Thursday, June 7, 2012
China surprises with an interest rate cut
The People's Bank of China (the central bank in China) cut the official one-year borrowing rate by 25 basis points to 6.31 percent and the one-year deposit rate to 3.25 percent.
Concern about slowing growth in China and other global macroeconomic events promoted the surprise announcement. This was the first cut since 2008.
Concern about slowing growth in China and other global macroeconomic events promoted the surprise announcement. This was the first cut since 2008.
Subscribe to:
Posts (Atom)
