China to cut policy rate by 0.1 pp from May 8
China's central bank will cut the rate for the seven-day reverse repos by 0.1 percentage point (pp) from tomorrow. The rate will be 1.4 per cent post adjustment. The move is aimed at better implementing the moderately-loose monetary policy and enhance support for the real economy, the bank said. Starting tomorrow, the interest rates for the standing lending facility will also be reduced by 0.1 pp.
China's central bank will cut the rate for the seven-day reverse repos by 0.1 percentage point (pp) from tomorrow.
The rate will be 1.4 per cent post adjustment.
The move is aimed at better implementing the moderately-loose monetary policy and enhance support for the real economy, the bank said.
Starting tomorrow, the interest rates for the standing lending facility will also be reduced by 0.1 pp.
