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China Cuts Interest Rate as Growth Risks Worsen With Omicron

GDP rose 4% y/y in fourth quarter, 8.1% for full year
Retail sales weaker than forecast last month, investment slows

Bloomberg business news — WATCH: Sian Fenner of Oxford Economics discusses what the latest GDP figures and the PBOC’s decision to lowered a key interest rate mean for the economy.Source: Bloomberg

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Bloomberg News

January 17, 2022, 2:02 AM UTCUpdated onJanuary 17, 2022, 7:06 AM UTC

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China’s central bank cut its key interest rate for the first time in almost two years to help bolster an economy that’s lost momentum because of a property slump and repeated virus outbreaks.