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8/15, 4:20 AM (Source: TeleTrader)
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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.

Baha Breaking News (BBN) / DJ