PBoC steps in with rate cuts

People's Bank of China
The PBoC

The People's Bank of China (PBoC) intervened to support the crisis-hit Chinese economy today (August 25), cutting its benchmark rates and lowering reserve requirements.

The central bank cut its benchmark one-year lending and deposit rates by 25 basis points each, to 4.6% and 1.75% respectively. It will also reduce reserve requirements by 50bp from September 6, saying in a statement this was designed to maintain "adequate liquidity" in the banking system.

The move came against the backdrop of

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected]tralbanking.com to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: