BEIJING : China's central bank said on Friday it had cut rates on its standing lending facility loans by 10 basis points effective Jan. 17.
In a response to Reuters questions, the People's Bank of China said it had lowered the overnight rate to 2.95per cent from 3.05per cent, the 7-day rate to 3.10per cent from 3.20per cent, and the 1-month rate to 3.45per cent from 3.55per cent.
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