PBoC cuts key rate to record low as Chinese economy shrinks

The People's Bank of China

China’s central bank reduced a key medium-term rate to a record low and extended more emergency liquidity to financial institutions this week, as the country’s economy contracted for the first time in four decades.

Today (April 17), China reported its first negative year-on-year quarterly growth since the 1980s. Gross domestic product in the first quarter of 2020 shrank 6.8%, compared with the same period last year, according to data released by the National Bureau of Statistics.

Two days

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] 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: