China slashes reverse repurchase rate to counter virus impact
Cut to 2.2% from 2.4% is largest in 5 years; central bank starts 50b yuan reverse repo operation
Tue, Mar 31, 2020 - 5:50 AM
ANZ Research economists Xing Zhaopeng and Raymond Yeung said in a note that the PBOC's rate cut "is intended to lower Chinese corporates' funding costs".
CHINA'S central bank on Monday cut an interest rate on loans to banks by the largest margin in five years and injected 50 billion yuan (S$10.1 billion) into the financial system to help the world's second-largest economy weather the coronavirus impact.