China Central Bank Cuts Seven-Day Reverse Repo Rate to Aid Economy
The People's Bank of China said the seven-day reverse repo rate will be lowered by 20 basis points to 1.50% from 1.70% previously, according to an online statement. The rate adjustment will be effective from Sept. 27. The PBOC last lowered the borrowing cost of the short-term liquidity tool by 10 basis points in July.
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