Houston Community News >>
11/26/2008-- China today signaled the
damage being done to its surging economy by the global downturn by
making its biggest one-off interest rate cut since the Asian financial
crisis in 1997.
The People’s Bank of China slashed benchmark rates for one-year loans and deposits by 108 percentage points, the fourth rate cut in just three months as the Government tries to convince consumers to spend more. The rate will fall to 5.58 percent on a one-year loan
The People’s Bank of China slashed benchmark rates for one-year loans and deposits by 108 percentage points, the fourth rate cut in just three months as the Government tries to convince consumers to spend more. The rate will fall to 5.58 percent on a one-year loan
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