The People’s Bank of China unexpectedly cut the interest rates on reverse repurchase agreements by 10 basis points on Monday, as the central bank ramped up support to relieve pressure on the economy from a virus outbreak.
The central bank injected 1.2 trillion yuan liquidity via reverse repo on the day, while 1.05 trillion yuan reverse repo comes due, net injecting 150 billion yuan funding to the financial system.
The PBOC lowered . . .
To continue reading, please subscribe. You will get
- Original and in-depth reporting with details, data and perspectives you don't read elsewhere
- THE WIRE - a real-time financial news platform focused on China
- Daily Brief newsletter to get you prepared for every trading day
- An indispensable and reliable source of information on China's economy and financial markets
We highly value independence. We are solely funded by subscriptions from thousands of readers like you. Not ready for our full service? Try Free Weekly Newsletter first.
Already have an account? Sign In