China central bank cuts medium-term loan rate

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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.

© Reuters. FILE PHOTO: Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee/File Photo

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 )

2 hours ago

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