BEIJING (Reuters) - China's economy is still growing at a reasonable speed and there is no need to use any aggressive measures to stimulate growth, the Chinese central bank said on Friday after cutting interest rates for the first time in more than two years.

The People's Bank of China said in a statement after the rate cut that it would further free up China's interest rates by allowing companies and individuals to sell negotiable certificates of deposits.

(Reporting by Koh Gui Qing; Editing by Jacqueline Wong)