China Cuts Interest Rates


The People´s Bank of China decided to cut its benchmark one-year lending rate by 40 bps to 5.6 percent on November 21st. It is the first rate cut in more than two years as the economy slows.

The one-year lending rate was cut by 40 bps to 5.6 percent and the one-year deposit rate by 25 bps to 2.75 percent, effective November 22nd. Policymakers also decided to increase ceiling for deposit rates to 1.2 times the benchmark rate from the previous 1.1 times.

China’s central bank last cut the benchmark interest rate by 31 bps in July of 2012.

China Cuts Interest Rates


Joana Taborda | joana.taborda@tradingeconomics.com
11/21/2014 11:22:19 AM