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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
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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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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.