World News | China's Central Bank Cuts Key Interest Rate as US Tariffs Threaten Economy

Beijing, May 7 (AP) China's central bank has cut a key interest rate as US 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 per cent.

Also Read | Operation Sindoor: UN Secretary General Antonio Guterres Remains 'Very Concerned' About India's Actions Against Pakistan, Says 'World Cannot Afford Military Confrontation Between 2 Countries'.

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 US President Donald Trump start to take a toll on China's export-dependent economy. (AP)

Also Read | Operation Sindoor: Headquarters of Banned Terror Groups Jaish-e-Mohammed, LeT, Hizbul Mujahideen Hit in IAF Strikes, Say Sources.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)