China cuts benchmark interest rates by 0.27 percentage points

2008-10-29 11:15:23 GMT2008-10-29 19:15:23 (Beijing Time) Xinhua English

BEIJING, Oct. 29 (Xinhua) -- China's central bank announced on Wednesday it would cut benchmark interest rates by 0.27 percent to spur economic growth.

The move would become effective on Oct. 30.

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