PBOC cut key rate to record low, more monetary easing expected

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The People's Bank of China (PBOC) on Wednesday cut a key interest rate to a record low, stepping up efforts to support the virus-hit economy. It's widely expected that China will lower banks' reference lending rate - Loan Prime Rate (LPR) - later this month and introduce more monetary easing policies.

The central bank injected 100 billion yuan liquidity into the banking system through one-year Medium-Term Lending (MLF). In addition, 200 billion yuan funding was released on Wednesday as the first phase of the cut in banks' reserve requirement ratio (RRR) announced earlier this . . .

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