TELETRADER News
8/15/2022, 4:20 AM
(Source: TeleTrader)
PBoC cuts key interest rates
The People’s Bank of China announced on Monday that it is cutting the one-year medium-term lending facility by 10 basis points to 2.75%. It also cut the seven-day reverse repurchase agreements by 10 basis points to 2%.
The bank also stated it sold 400 billion yuan through its one-year medium lending facility, rolling over less than the 600 billion yuan worth of loans maturing this week.