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General News China cuts interest rates for the third time since November
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The Central Bank of China has reduced it's benchmark interest rate for the third time since November. In a move to support the healthy development of the economy, The People's Bank of China lowered its benchmark lending rate by 25 basis points (bps) to 5.1 per cent, and its one-year benchmark deposit rates by the same amount to 2.25 per cent, adding that the reductions would be effective from May 11.

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