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China cuts 1-year benchmark rate, moving to boost economy as world markets languish

China ratcheted up its effort to reinvigorate its economy yesterday by cutting a key policy rate and interest paid on bank deposits. The move coincided with a downturn in world stocks, extending losses in Chinese markets that have declined this year


  • Jul 26 2024
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China cuts 1-year benchmark rate, moving to boost economy as world markets languish
China cuts 1-year benchmark rate, moving to boost economy as world markets languish

The planning meeting focused on mapping out long-term goals but also emphasized short-term targets, Nicholas Yeo of abrdn, formerly Standard Life Aberdeen plc, said in a report.

ELAINE KURTENBACH, BANGKOK, MDT/AP

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