China Cuts Interest Rate as Growth Risks Worsen With Omicron

By News on the Net -- Bloomberg —— Bio and Archives January 17, 2022

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China’s central bank cut its key interest rate for the first time in almost two years to help bolster an economy that’s lost momentum because of a property slump and repeated virus outbreaks. In a stark policy divergence with other major economies, the People’s Bank of China lowered the rate at which it provides one-year loans to banks by 10 basis points -- the first reduction since April 2020. -- More...