China cuts interest rates again

FXStreet (Bali) - China cut yet again benchmark its lending rates by 0.25%, to 5.1% from 5.35%, while the depo rate is now down from 2.5% to 2.25%. Changes will be effective 11 May.

According to the PBOC, the move should support the healthy development of the economy. The Chinese Central Bank also said "the economy is still facing relatively big downward pressure; at the same time, the overall level of domestic prices remains low, and real interest rates are still higher than the historical average."