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China will struggle to help economies at home and abroad

High inflation and low central bank reserves prevent sweeping action

| China
The headquarters of the People's Bank of China, pictured on Feb. 3: China has little room to cut rates.   © Reuters

Unlike the Federal Reserve, whose sharp rate cut on Sunday central banks around the world rushed to match, the People's Bank of China has been much more restrained in lowering Chinese interest rates -- and is likely to continue being so well into the foreseeable future.

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