Interest rates are cut to 2.5% by the summer, but Banks do not pass the lower rate on to borrowers in order to rebuild their profits and capital bases.

到明年夏季之前，利率将降至2.5%，但银行为了重建自己的资本和利润基础，不愿意以更低的利率提供贷款。

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Pre-tax profits (with inventory and capital consumption adjustments) declined at a 9.2% annual rate in Q2 and are down 7% since last year, the worst since 2001.

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