Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (33354)	6/7/2012 7:34:08 AM
From: Oblivious	Read Replies (1) \| Respond to of 219065

China PBOC Cuts Benchmark Interest Rates, Adjusts Rate Bands Last update: 6/7/2012 7:17:26 AM By Aaron Back BEIJING--China's central bank on Thursday lowered benchmark interest rates on loans and deposits, and moved to allow rates to float more freely, in a bid to support growth and advance reform of the financial system. The People's Bank of China said in a statement on its website it will lower benchmark one-year lending and deposit rates by 0.25 percentage points, effective from Friday. The PBOC said in a statement it would cut the one-year yuan lending rate to 6.31% from 6.56%, and the one-year yuan deposit rate to 3.25% from 3.50%. In addition, the PBOC will allow deposit rates to rise to 110% of the benchmark rate, and the lending rate to fall to 80% of the benchmark. The PBOC had raised rates three times in 2011, with the last hike announced July 6. It raised rates twice in 2010. -By Aaron Back, Dow Jones Newswires; (8610) 8400-7701; aaron.back@dowjones.com (END) Dow Jones Newswires June 07, 2012 07:17 ET (11:17 GMT)