China cuts interest rates over the weekend

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In a widely anticipated move, the Peoples Bank of China, on Saturday cut its benchmark interest rates by 25bps, bringing down its one year bank rate to 5.35% from 5.6%. The PBoC had cut interest rates earlier in November 2014. The one-year deposit rate was also cut by 25bps, bringing it to 2.5%. The rates come into effect from 1st of March 2015. The monetary policy decision comes hot on the heels ...

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