PBoC slashes RRR and IOER rates

PBoC_China_money_PA_230x150_06Apr20
By Rebecca Feng
06 Apr 2020

The People’s Bank of China announced the much-anticipated cut to the reserve requirement ratio (RRR) by 100bp for small and medium-sized banks last Friday. But in a surprise move, the central bank also dug out an old tool to appease the market after hopes were shattered on a lower benchmark deposit rate.

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