People’s Bank of China cuts medium-term lending rate
Reduction comes a day after PBoC unleashes slew of economic stimulus measures
China’s central bank today (September 25) lowered borrowing costs for certain financial institutions by cutting its medium-term lending facility (MLF) rate for the second time this year.
The People’s Bank of China (PBoC) said in a statement that it was cutting the rate on 300 billion yuan ($42.6 billion) of one-year medium-term lending facility (MLF) loans from 2.30% to 2.00%.
The 30 basis point cut was the biggest since the central bank began using the monetary tool to guide market interest
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