<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/546f177edd0895006c8b4627-1557-1167/rtx1226s-1.jpg" alt="RTX1226S" data-mce-source="REUTERS/Eric Miller " /><p class="source"><span>REUTERS/Eric Miller </span></p></div><p></p></div></div>The People's Bank of China just cut interest rates to combat the country's slowing economic growth and sluggish inflation.</p><p>The reserve requirement ratio (RRR) was cut by 0.5 points. </p><p>That brings the requirement, which is an important measure of how much money Chinese banks are able to lend, to 17.5%. Cuts to the RRR are designed to free up the banking system to lend more.</p><p>There's a <a href="http://ftalphaville.ft.com/2015/05/06/2128582/an-rrr-in-china-explainer/">good explainer on that here</a>, from FT Alphaville.</p><p>The benchmark interest rate was cut by 0.25%, bringing it down from 4.6% to 4.35%.</p><p>More on this as the story develops.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/excel-index-match-versus-vlookup-masters-find-data-2015-9">This is what separates the Excel masters from the wannabes</a></h3>        <div>            <div>    <script src="http://player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script>    <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="50YnY4czr4ms1vJ7yz3xzq0excz_pUMs" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>    <script>    if (typeof RunFunctions === 'undefined') { var RunFunctions = []; }     RunFunctions.push(function()    {         var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', '50YnY4czr4ms1vJ7yz3xzq0excz_pUMs',{ autoplay: 'false' });     });    </script>    <noscript><div>Please enable Javascript to watch this video</div></noscript></div>        </div>        <script>(function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }()); </script>    </div>

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CHINA CUTS RATES

REUTERS/Eric Miller The People's Bank of China just cut interest rates to combat the country's slowing economic growth and sluggish inflation.The reserve requirement ratio (RRR) was cut by 0.5 points. That brings the requirement, which is an important measure of how much money Chinese banks are able to lend, to 17.5%. Cuts to the RRR are designed to free up the banking system to lend more.There's a good explainer on that here, from FT Alphaville.The benchmark interest rate was cut by 0.25%, bringing it down from 4.6% to 4.35%.More on this as the story develops. NOW WATCH: This is what separates the Excel masters from the wannabes if (typeof RunFunctions === 'undefined') { var RunFunctions = []; } RunFunctions.push(function() { var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', '50YnY4czr4ms1vJ7yz3xzq0excz_pUMs',{ autoplay: 'false' }); }); Please enable Javascript to watch this video (function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }());

REUTERSEric Miller The Peoples Bank of China just cut interest rates to combat the countrys slowing economic growth and sluggish inflation. The reserve requirement ratio RRR was cut by 0.

CHINA CUTS RATES

Mike Bird

NOW WATCH: This is what separates the Excel masters from the wannabes

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