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PBOC cut reverse repo rate by most in five years to boost economy hit by coronavirus

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Chinese central bank unexpectedly cut the interest rate on reverse repurchase agreements by 20 basis points on Monday, the biggest cut in almost five years, in a move to ramp up efforts to offset the impact on an economy from the coronavirus outbreak.

The People’s Bank of China (PBOC) lowered the 7-day reverse repo rate to 2.20 per cent from 2.40 per cent previously.

The PBOC injected 50 billion yuan into . . .

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