China lowers key interest rate

» Published: July 22 2024

China lowers key interest rate
Photo: Vincent Thian/AP/TT

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The Chinese central bank is lowering a key interest rate to try to breathe life into economic growth. It concerns the 7-day reverse repo rate.

The rate is being lowered by 10 points, 0.1 percentage points, to 1.7 percent.

It is the first time in a year that a reduction is being made to the current rate.

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By TTTranslated and adapted by Sweden Herald
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