China cut interest rate by 0.25%, loan to get further cheaper
China to protect its economy from the slowdown hitting another big step. China within a year, the sixth reduction in its benchmark lending rate. China's central bank on Friday to 0.25 percent Rending lending and deposit rates of 0.25 per cent a year reduction. October 24 will be applied to interest rate changes.
The benchmark lending rate will fall to 4.35 percent
The central bank cut its benchmark lending rate for banks is to reduce the required reserve limits. People's Bank of China through its website Saturday that his one-year lending rate will be 4.6 percent, down from 4.35 per cent. The one-year deposit rate will fall to 1.5 per cent from 1.75 per cent. The benchmark lending rate cuts this year, the fourth and the sixth time in the past year has been.
To achieve the target of 7 per cent growth rate
Also required reserves for banks by 50 basis points, or 0.50 per cent, the limit has been reduced, while some institutions have been reduced by an additional 0.50 per cent. China's government for its 2015 growth target of 7 per cent is constantly striving to achieve. Moderation in consumer inflation and producer prices due to a lack of policy makers to decide easily.
European markets rose after China rate cut
The rate cut in China and European markets gained after the decision. China's currency yuan against the US dollar recorded weaker. First pan-European FTSE Euro 300 gains 2.2 percent.
Oct 23, 2015.