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China cuts interest rates to ease deflation worries
中国降低利率缓解通货紧缩忧虑

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China's central bank on Saturday decided to cut benchmark interest rates by 25 basis points amid deflation worries.

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Since March 1, the one-year loan interest rate will be lowered to 5.35 percent, while the one-year saving rate will drop to 2.5 percent. The central bank also decided to allow more flexibility for the interest rates.

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The ceiling for the floating range for the saving rate could be 1.3 times the bench mark rate, instead of the previous 1.2 times.

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