China cuts short-term interest rate

By Agence France-Presse

Jun 14, 2023 12:23 am

BEIJING: China's central bank on Tuesday cut a key policy interest rate, in a surprise move to boost the country's flagging economy.

The People's Bank of China said it was lowering the seven-day reverse repo rate to 1.9 percent from 2.0 percent, the first such move since August last year.

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