BEIJING — China's central bank on Monday said it had cut two key interest rates to historic lows, in the latest move by Beijing to boost sluggish spending and kickstart the world's second-largest economy.
BEIJING — China 's central bank on Monday said it had cut two key interest rates to historic lows, in the latest move by Beijing to boost sluggish spending and kickstart the world's second-largest economy.The cuts come just days after the country posted its slowest quarterly growth in a year and a half, underlining the deep economic woes the country faces.
'Beijing has said it has 'full confidence' in achieving its annual growth goal, but economists say more direct fiscal stimulus is needed to revive activity and restore business confidence.The disappointing data came after weeks of announcements and news conferences about an eagerly awaited stimulus plan, though investors say they are still waiting to see more details.
Central Bank Cuts Key Interest Rates
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