BEIJING: China's central bank on Monday (March 30) cut an interest rate on loans to banks by the largest margin in five years and injected 50 billion yuan (US$7bil) into the financial system to help the world's second-largest economy weather the (Covid-19) coronavirus impact.
The People's Bank of China (PBoC) said it launched a 50-billion-yuan reverse repurchase operation on Monday and lowered the seven-day reverse repurchase rate from 2.40% to 2.20%.
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