The People's Bank of China (PBOC) announced a series of measures to stimulate its struggling economy, including cutting the reserve requirement ratio and signaling potential reductions in loan prime rates.
People's Bank of China Gov. Pan Gongsheng announced a flood of support measures in a rare press conference Tuesday amid a deepening economic slump.
Pan also said the PBOC would cut the 7-day repo rate by 0.2 percentage points, and signaled that a 0.2-0.25% cut in the loan prime rate is possible. Later in the press conference, he also signaled that a 0.2-0.25% cut in the loan prime rate is possible, without specifying when or if he was referring to the one-year or five-year LPR. Last Friday, the PBOC kept its main benchmark lending rates unchanged at the monthly fixing.
China Economy Interest Rates PBOC Reserve Requirement Ratio
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