PBoC cuts key policy rate
Chinese central bank ramps up support as new data suggests recovery is slowing
China’s central bank cut its key interest rate today (June 15), as fresh data suggests the country’s economic rebound is cooling.
The People’s Bank of China lowered the rate on 237 billion yuan ($33.1 billion) worth of one-year medium-term lending facility (MLF) loans to financial institutions by 10 basis points to 2.65%, it said in a statement.
On June 13, the PBoC unexpectedly cut the seven-day reverse repurchase rate by 10bp to 1.9%. The same day, it also lowered the overnight, seven-day
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