China's central bank on Monday said it had cut two key interest rates to historic lows, in the latest move by Beijing to boost sluggish spending and kickstart the world's second-largest economy. The country's top banks on Friday cut interest rates on yuan deposits for the second time this year in another potential boost to spending.

China’s central bank on Monday announced cutting two key interest rates to historic lows, in what is seen as the latest move by Beijing to boost sluggish spending and kickstart the world’s second-largest economy.