INCREASING URGENCY: China cut state-set gasoline and diesel prices for the second time in a month, a day after cutting interest rates for the first time in almost four years. Beijing also took a step to letting the market set rates paid on bank deposits, which could shift more money to households.
EFFECT: The moves are meant to support consumer spending and company investments.
CONTEXT: The government is ramping up efforts to reverse a sharp slowdown in the world’s second-largest economy.
