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Interest rates cut to spur growth

By Wang Xiaotian in Beijing, Ding Qingfen in Yokohama, Japan and Gao Changxin in Shanghai ( China Daily ) Updated: 2012-07-06 08:06:29

Second reduction in a month to tackle economic slowdown

The central bank cut interest rates for a second time in a month, fueling concerns that the slowdown in the world's second-largest economy is worse than predicted.

The People's Bank of China lowered benchmark deposit rates on Thursday by 25 basis points and cut lending rates by 31 basis points, effective from Friday.

Interest rates cut to spur growth

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