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	<title>China Financial Markets &#187; Dan Rosen</title>
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	<description>Michael Pettis&#039; finance blog...</description>
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		<title>Will the interest rate cut by the PBoC make things better, or worse?</title>
		<link>http://www.mpettis.com/2008/11/27/will-the-interest-rate-cut-by-the-pboc-make-things-better-or-worse/</link>
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		<pubDate>Thu, 27 Nov 2008 11:50:05 +0000</pubDate>
		<dc:creator>Michael</dc:creator>
				<category><![CDATA[Balance of payments]]></category>
		<category><![CDATA[PBoC]]></category>
		<category><![CDATA[Policy]]></category>
		<category><![CDATA[Dan Rosen]]></category>
		<category><![CDATA[Interest rate cut]]></category>

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		<description><![CDATA[Last night the PBoC surprised the market with its biggest rate cut since 1997. Lending rates for one year or more were cut by 108 bps, while the six month lending rate was cut by 99 bps. Deposit rates were also cut, but with smaller cuts in short term rates (36 bps for demand deposits) [...]]]></description>
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