China's central bank unexpectedly lowered the interest rates on reverse rep...
FILE PHOTO: A woman walks past the headquarters of the People's Bank of China , the central bank, in Beijing, China September 28, 2018. REUTERS/Jason Lee/File Photo
SHANGHAI - China’s central bank unexpectedly lowered the interest rates on reverse repurchase agreements by 10 basis points on Monday, as authorities stepped up measures to relieve pressure on the economy from a rapidly spreading virus outbreak. The People’s Bank of China said on its website that it was lowering the 7-day reverse repo rate CN7DRP=CFXS to 2.40% from 2.50%, and cutting the 14-day tenor CN14DRP=CFXS to 2.55% from 2.65% previously.
The cut came as Chinese financial markets reopened after an extended Lunar New Year holiday, when the death toll from the virus and number of infections had climbed sharply. On Monday, the PBOC also injected a total of 1.2 trillion yuan into money markets through reverse bond repurchase agreements. Markets had widely expected the liquidity move but most analysts thought rate cuts might follow later once the economic impact was more clear.Our Standards:
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
China finishes new hospital for virus patients as toll growsBEIJING (AP) — China completed building a 1,000-bed hospital for treating victims of a new virus that has caused 362 deaths and more than 17,000 infections at home and abroad, according to the...
Baca lebih lajut »
Asian shares set for rough ride on virus fears, China in focusAsian markets are set for another bumpy ride on Monday on fears about the hit to...
Baca lebih lajut »
Wuhan coronavirus: Cases continue to rise rapidly as US bans travel from ChinaThe number of confirmed cases of the Wuhan coronavirus is nearing 12,000. With most of China due to return to work Monday, the concern will be how far the virus will now spread, and whether the country's economy can bear further restrictions to rein it in.
Baca lebih lajut »
Walmart temporarily limits 'non-business critical travel' to ChinaWalmart Inc , the world's largest retailer, said it is temporarily limiting...
Baca lebih lajut »