China pumped the most liquidity into its financial system via short-term policy loans on record, a sign policymakers are likely to keep interest rates low to bolster a nascent economic recovery.
The People’s Bank of China granted lenders a net 733 billion yuan ($100 billion) of cash with so-called reverse repurchase contracts on Friday. Only a few days after the...
- The People’s Bank of China on Tuesday trimmed its one-year loan prime rate (LPR) by 10 basis points from 3.65% to 3.55%, and reduced the five-year rate by the same margin to 4.2%. The cuts follow reductions in other interest rates last week.
The LPR sets the interest that commercial banks charge their best clients, and serves as the benchmark for household and...