cougar golf irons

2008-10-10 Beijing

The People's Bank of China announced on 8 October that one-year yuan deposit and loan benchmark interest rates have been cut by 0.27 percent each while RMB deposit reserve ratio for deposit financial institutions will be cut by 0.5 percent from 15 October 2008, marking the first time in six years that the Chinese central bank has lowered the benchmark rates. The combined move, very rare in 10 years, is expected to stimulate growth of mortgage loans and the overall economy.

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