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China Surprises with Interest Rate Cut to Spur Growth

Posted November 24, 2014

Under Economic Issues, International Trade Issues


China cut interest rates unexpectedly on Friday, stepping up a campaign to prop up growth in the world’s second-largest economy as it heads towards its slowest growth in nearly a quarter century.

The cut – the first such move in over two years – came as factory growth has stalled and the property market, long a pillar of growth, has remained weak, dragging on broader activity and curbing demand for everything from furniture to cement and steel. Read more here.

Related: China Ready to Cut Rates Again on Fears of Deflation (Reuters)