CHINA TOPIX

China Interest Rates Are Cut To Halt Weakening Economy; How Bad Are Things?

Althea Serad   |

May 11, 2015 07:12 AM EDT

China’s interest rates were cut for the third time in six months in hopes of lowering companies' borrowing costs and increasing the country’s weakening economy, which is reportedly headed for its worst year in a quarter of a century. The announcement was made by The People's Bank of China, the nation’s central bank, on Sunday.