People’s Bank of China cuts interest rate firts time in two years

摘要

For the first time over two years, People’s Bank of China has cut loan interest rate by 0.4 percentage point to 5.6%, surprising the steelmaking sector that expected tougher monetary policy towards the end of the year. As reported earlier, Chinese trade companies have been suffering from much stricter crediting requirements since May 2014 that entailed occasional price collapses in the steelmaking sector and brought small companies to bankruptcy.