China central bank cuts medium-term loan rate

2024.09.24 21:11

SHANGHAI (Reuters) – China’s central bank said on Wednesday it has lowered the borrowing cost of its medium-term loans.

The People’s Bank of China (PBOC) said it cut the rate on 300 billion yuan ($42.66 billion) worth of one-year medium-term lending facility (MLF) loans to some financial institutions to 2.00% from 2.30%.

($1 = 7.0318 )

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