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China's state-run banks cut deposit rates to stimulate sluggish growth

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China's state-run banks cut deposit rates to stimulate sluggish economic growth

Previous rate trimming occurred in September. This week's moves come at the urging of Chinese authorities, who hope the extra funds may stimulate consumption and ease fundraising difficulties.

And while the country has lowered its growth target from prior years to 5% for 2023, some analysts indicate that, given limited investment and increasing geopolitical tensions with the West.

 

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