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CBC Announces Fourth Interest-Rate Cut in 45 Days.
Taipei, Nov. 10, 2008 (CENS)--With signs of an economic downturn having become increasingly evident, the Central Bank of China (CBC) announced the fourth policy interest-rate cut in 45 days yesterday (Nov. 9). The board of standing directors of the CBC resolved to cut the interest rates by 0.25 of a percentage point, boosting the total scale of its interest-rate cut to 0.85 of a percentage point since Sept. 26. The latest cut lowers the discount rate, the rate on accommodations with collateral, and the rate on accommodations without collateral to 2.75%, 3.125%, and 5% per annum, respectively, a two-year low, effective today. The CBC ascribed its move to the stabilization of the …
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