China’s Central Bank cuts benchmark interest rates

FXStreet (Mumbai) – After the recent havoc caused in the financial markets by the Chinese stocks crash, the Chinese central bank PBOC slashes key rates in a bid to provide long-term liquidity and hence to boost the economy.

Key Measures unveiled:

China’s Central Bank cuts banks’ reserve requirement ratio by 50 bps

China’s Central Bank cuts reserve requirement ratio for most big banks to 18.0%

China’s Central Bank cuts 1-year lending rate by 25 bps to 4.60%

China’s Central Bank cuts 1-year deposit rate by 25 bps to 1.75%

China’s Central Bank says reserve requirement ratio cut effective as of Sep 06

After the recent havoc caused in the financial markets by the Chinese stocks crash, the Chinese central bank PBOC slashes key rates in a bid to provide long-term liquidity and hence to boost the economy.

(Market News Provided by FXstreet)