PBoC cuts benchmark interest rates

By Agence France-Presse

Jun 21, 2023 12:30 am

BEIJING: China's central bank on Tuesday cut two benchmark interest rates, following several similar measures in recent days in a bid to counter the post-Covid growth slowdown in the world's second-largest economy.

Last week, the People's Bank of China (PBoC) lowered two other key rates and pumped billions into financial markets, as fresh data showed the economy continued to struggle.

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