7 June 2012, 17:56  China's Central Bank cut benchmark interest rates by 25 basis points

China's central bank on Thursday unexpectedly cut benchmark interest rates by 25 basis points. The People's Bank of China reduced the rate by a quarter point to 6.31 percent, effective from June 8. The deposit rate was lowered to 3.25 percent from 3.5 percent. Earlier, China lowered the reserve requirement ratio by 50 basis point in February after taking similar such move in December 2011.

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