China's interest rate cuts are aimed at
boosting slowing economic growth.
The Chinese central bank has cut its benchmark interest rates for the second time in two months, in a bid to arrest slowing economic growth.
Benchmark lending rates will be cut from 6.31% to 6%, while deposit rates will fall from 3.25% to 3%.
The rate cuts will come into force on Friday and closely follow on from the last cuts made on 7 June.
Before these moves, the People's Bank of China had not cut interest rates since 2008.
Commenting on the move, Rupert Armitage, director at Shore Capital, said: "China are cutting rates because they're experiencing a slowdown.
To read the rest of this story, visit http://www.bbc.co.uk/news/business-18723170
via soundofheart.org
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