CHINA-ECONOMY: PEOPLE'S BANK OF CHINA LOWERS INTEREST RATE FOR FIRST TIME IN TWO YEARS BY 10 BASIS POINTS
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The People’s Bank of China lowered its key interest rate for the first time in almost two years to help bolster
an economy that’s lost momentum because of a property slump and repeated virus outbreaks. It lowered the
rate at which it provides one-year loans to banks by 10 basis points -- the first reduction since April 2020.
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