China's Rate Cut, Coupled With ECB Stimulus And Lower Oil Prices, Could Boost Global Growth In 2015

China's decision to cut its key interest rates this week underscores just how concerned Beijing is about the slowdown in the world's second-largest economy. The People's Bank of China cut its benchmark one-year loan interest rate Friday to 5.6 percent from 6 percent and cut its benchmark one-year deposit rate to 2.75 percent from 3 percent. The nation's central bank also hiked the upper limit on deposit interest rates to 1.2 times the benchmark rate from 1.1 times the benchmark rate.