China central bank cuts short-term policy rate

07/21/2024

Less than a minute

2024.07.21 20:57

© Reuters. 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

SHANGHAI (Reuters) – China’s central bank said on Monday it would cut the policy interest rate on seven-day reverse purchase agreements, known as reverse repos, to 1.7% from 1.8%.

The People’s Bank of China said that it would improve open market operations, and strengthen counter-cyclical adjustments to better support the real economy.

07/21/2024

Less than a minute

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