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 ano

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 indvidual account here: