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China Cuts Interest Rates for Second Month in a Row

7:12 AM ET Thu, 5 July 2012

"This is a sign that the slowdown which has its roots in the euro zone is spreading further afield, and this is the second month in a row that China has made a move like this on the same day as the Bank of England and ECB which shows how much of a global issue this is becoming," John Wraith, fixed income strategist at BofA Merrill Lynch Global Research, told CNBC.