The headquarters of the PBOC in Beijing. China cut its benchmark interest rates for the first time in more than two years. Photo: Reuters The headquarters of the PBOC in Beijing. China cut its benchmark interest rates for the first time in more than two years. Photo: Reuters
The headquarters of the PBOC in Beijing. China cut its benchmark interest rates for the first time in more than two years. Photo: Reuters

China's central bank surprises markets with lending rate cut to 5.6 per cent

Central bank's decision to lower benchmark rate by 40 basis points is first such move since 2012, and sparks global stock market rally

The headquarters of the PBOC in Beijing. China cut its benchmark interest rates for the first time in more than two years. Photo: Reuters The headquarters of the PBOC in Beijing. China cut its benchmark interest rates for the first time in more than two years. Photo: Reuters
The headquarters of the PBOC in Beijing. China cut its benchmark interest rates for the first time in more than two years. Photo: Reuters
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