The RRR cut will release about one trillion yuan or about US$138.1bil in long-term liquidity. — Reuters
Beijing: China has reduced its policy rate and lowered the amount of cash lenders must keep in reserve, as Beijing ramps up efforts to help an economy caught in a second trade war with the United States.
The People’s Bank of China (PBoC) cut the seven-day reverse repurchase rate to 1.4% from 1.5%, according to governor Pan Gongsheng.
