China's central bank cut two benchmark interest rates, following several similar measures in recent days in a bid to counter the post-Covid growth slowdown.
China has released a slew of weak economic indicators in recent weeks.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.
China's efforts contrast with those in the United States and other Western countries, which have been forced into a series of interest rate hikes while reducing money supply to tame inflation. The PBoC also said it was offering 237 billion yuan to banks through the medium-term lending facility"to maintain reasonable and sufficient liquidity in the banking system".
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