The People’s Bank of China PBOC, China’s central bank, said that it will cut the seven-day reverse repurchase rates by 10 basis points to 1.4% from May 8 in addition, the reserve requirement ratio RRR for financial institutions will be lowered by 50 basis points, effective May 15.
At a press conference on May 7, PBOC governor Pan Gongsheng, said that the move is designed to increase its support for China’s real economy, which has shown signs of being hit by the tariff policies put forward by the US administration.
US orders of Chinese goods have slumped after US president Donald Trump hit Chinese companies with...
¬ Haymarket Media Limited. All rights reserved.
