29.8 C
Saturday, April 20, 2024
HomeChinaChina cuts medium-term lending rates as economy sputters

China cuts medium-term lending rates as economy sputters


Related stories

ED files prosecution complaint against 9 accused in Srinagar court

The Enforcement Directorate has filed a prosecution complaint under...

India-Taiwan tech collaboration

The past few months have seen tremendous strides inIndia’s...

China has military presence in space, warns Nasa chief

The chief of Nasa has flagged China's military presence...

Russia-India signs agreement to operate large research hub in New Delhi..

The Higher School of Economics, located in Russia, and...

Five Customs officials among seven slain in D.I. Khan..

Seven people, including five Customs officials, were slain in...

China’s central bank cut the borrowing cost of its medium-term policy loans for the first time in 10 months on Thursday, in line with expectations, as Beijing ramps up stimulus measures to shore up a shaky economic recovery.

The People’s Bank of China (PBOC) said it lowered the rate on 237 billion yuan ($33.1 billion) of one-year medium-term lending facility (MLF) loans to some financial institutions by 10 basis points to 2.65% from 2.75% previously.

In a Reuters poll of 33 market watchers this week, all respondents predicted a cut to the MLF rate, with 94% of them expecting a 10-bps cut.

Latest stories