China cuts interest rates again to support economy

China's central bank cut its benchmark lending rates by 25 basis points to 4.85 percent on Saturday, the fourth reduction since November, as it gears up to lower borrowing costs and support a slowing economy. The People's Bank of China (PBOC) also reduced one-year benchmark deposit rates by 25 basis points to 2 percent, it said in a statement on its website, adding that the reductions would take effect on Sunday.

China cuts interest rates again to support economy source: http://finance.yahoo.com/news/china-cuts-interest-rates-again-093919452.html