SHANGHAI: China's central bank left the borrowing cost of its seven-day reverse repurchase agreements unchanged on Thursday, after the U.S. Federal Reserve reduced interest rates just hours earlier.
The People's Bank of China (PBOC) injected 487 billion yuan (US$68.56bil) worth of seven-day reverse repos through open market operations, keeping the rate steady at 1.40% from the previous operation.
The seven-day reverse repo rate now serves as the economy's main policy rate.
The PBOC last lowered the seven-day reverse repo rate by 10 basis points in May. - Reuters
