China makes surprise interest rate cut
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7:00am EDT China's nation flag flies in front of the headquarters of the People's Bank of China, the central bank, in Beijing November 30, 2011.
BEIJING (Reuters) - China delivered twin surprises on interest rates on Thursday, cutting borrowing costs to combat faltering growth while giving banks additional flexibility to set competitive lending and deposit rates in step along the path of liberalization
Credit: Reuters/Soo Hoo Zheyang
Kevin Yao and Nick Edwards
BEIJING
Thu Jun 7, 2012 8:48am EDT
link-
http://www.reuters.com/article/2012/06/07/us-china-economy-rates-idUSBRE8560IX20120607