Follow us on:   

China Central Bank cuts interest rates by 25 bps
February 28, 2015, 10:19 am

China's central bank cuts interest rates by 25 basis points - lending and deposit [Image: Archives]

China’s central bank cuts interest rates by 25 basis points – lending and deposit [Image: Archives]

China Central Bank on Saturday announced a rate cut in interest rates effective March 1.

The People’s Bank of China (PBOC) has cut 1-year lending, deposit rates by 25 basis points to 5.35 percent.

China’s consumer prices rose at the slowest pace in more than five years in January, giving the central bank more room to ease monetary policy.

Falling food and tumbling oil and metals prices are pushing inflation lower, raising real interest rates and suggesting more stimulus is needed.

On Saturday, the PBOC said it would further liberalise interest rates and lift the ceiling for the floating range for the saving rate to 1.3 times the benchmark rate.

The central bank said it would cut the benchmark saving rate by 25 basis points to 2.5 per cent.

 

Source: Agencies

 

Leave a Reply

Your email address will not be published. Required fields are marked *

Anti-Spam * Time limit is exhausted. Please reload the CAPTCHA.