PBOC cut MLF rate to support economy, reference lending rates set to drop on Feb. 20

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China’s central bank cut the interest rate on its medium-term lending on Monday as authorities sought to ease the impacts on the businesses from a coronavirus outbreak.

The reference lending rates to be announced this Thursday are set to decline, analysts estimates. Some now expect targeted reduction to banks' reserve requirement ratio.

The People’s Bank of China (PBOC) said it was lowering the rate on 200 billion yuan ($28.65 billion) worth of one-year medium-term lending facility (MLF) loans to financial institutions by 10 basis points (bps) to 3.15 . . .

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