June 8, 2012 — China’s central bank cut interest rates for the first time since 2008, after economic growth slowed by 1.1% to 8.1% in the first quarter. The move follows rate cuts in Brazil and Australia as central banks brace for turmoil in Europe. Beijing is due to reveal inflation and growth data this weekend with analysts forecasting that China will deliver its sixth straight quarter of slowing growth. Graphic shows changes in benchmark one-year interest rates since onset of global economic crisis in 2008.
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