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


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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