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China cuts rates by 1.08% to aid growth
China decided to reduce the interest rate by a massive 1.08 percentage points, in an effort to jumpstart capital investments, boost housing sale and propel domestic consumption. Engine Slows Down WB: China's GDP to slow to 7.5% in 2009 China's annual economic growth is expected to slow to 7.5 percent next year, but the country has "adequate tools" to keep the economy going at a healthy level. |
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