BEIJING, Oct. 10 (Xinhua) -- China's central bank on Friday said it will continue international cooperation to tackle the global financial crisis and maintain market stability. The pledge came two days after the People's Bank of China (PBOC) announced an interest rate cut in a co-ordinated global move to revive solvency in the international financial system. The PBOC on Wednesday cut the benchmark lending and deposit rates by 0.27 percentage points and the reserve requirement ratio by 0.5 percentage points amid growing fears of a slowing economy and falling equities market. "The PBOC will continue close contacts and cooperation with counterparts and international financial organizations to jointly maintain stability of global financial market," PBOC spokesman Li Chao told Xinhua. The PBOC would closely watch the developments...
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