China’s central bank cuts key policy rate for first time in nearly a year

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China’s central bank cut a key policy rate for the first time since August on Thursday, a widely-expected move as Beijing ramps up policy support to boost the economy amid a darkening growth outlook.

The People’s Bank of China said it lowered the rate on 237 billion yuan ($33.08 billion) of one-year medium-term lending facility loans to the country’s financial institutions to 2.65% from 2.75%.


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