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| Sep 15, 2008 | |
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China cuts interest rate
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| BEIJING - CHINA will cut its one-year lending rate by 27 basis point from Tuesday, in a bid to spur growth, the central bank said.
The move was in order to ensure 'stable and relatively fast growth' in the national economy, it said in a statement. The central bank also said it will reduce the required reserve ratio by one percentage point with effect from September 25. -- AFP | |
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