China's interest rate adjustments beteen 2008 and 2015
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E-mail China Daily, March 3, 2015
China's central bank announced interest cut on Saturday for the second time in less than four months, as the country's economy is expected to slow down and grow 7 percent in the first quarter of this year according to a government think tank.
The State Information Center said in a report that the move is meant to shore up the economy and stave off deflation risks.
Interest rate adjustment is often seen as one of the most direct and immediate ways to maintain healthy economic development for monetary policy makers.
Here are the past interest rate adjustments over the years between 2008 and 2015.
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A Chinese bank clerk counts the stacks of one-hundred yuan notes for a customer at a bank in Hefei, east China's Anhui province on October 14, 2010. [File photo] |
Year 2014-2015
Feb 28, 2015
A cut to benchmark interest rate by 25 basis points, lowering one-year benchmark loan rate to 5.35 and saving rate to 2.5 percent.
Nov 21, 2014
A cut to one-year benchmark lending rate by 40bps to 5.6 percent, cut to benchmark savings rate by 0.25bps to 2.75 percent.
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