China cuts lending rate for some sectors and flags room for more
PBoC deputy announces 25bp cuts to lending rate for agriculture sector, small businesses and others
The People’s Bank of China has cut financing costs for certain industries and said there is room for additional cuts to the bank’s key interest rates.
PBoC deputy governor Zou Lan said at a press conference in Beijing today (January 15) that the one-year interest rate for certain instruments in its structural monetary policy toolkit would be reduced from the current 1.5% to 1.25%. Zou said this would encourage banks to increase lending to targeted areas.
Additional lending support would be
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