China's central bank cuts key interest rate as US tariffs threaten economy

China’s central bank has cut a key interest rate as U.S. tariffs threaten the economy

China Economy (Chinatopix)

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China’s central bank has cut a key interest rate as U.S. tariffs threaten the economy.

People’s Bank of China Governor Pan Gongsheng announced Wednesday that the lending rate to commercial banks would be reduced by 0.25 percentage points to 1.5%. The central bank also reduced the reserve ratio — the amount of money banks must hold in their reserves.

The move comes as high tariffs imposed by U.S. President Donald Trump start to take a toll on China's export-dependent economy.

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China's central bank cuts key interest rate as US tariffs threaten economy

China’s central bank has cut a key interest rate as U.S. tariffs threaten the economy

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