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Published on Monday, June 29, 2015 | Updated on Sunday, May 13, 2018

China | PBoC aggressively cut interest rate and RRR to support growth

The People’s Bank of China (PBoC) cut its benchmark interest rate by 25bps last Saturday, the fourth time since November 2014 and effective from June 28; at the same time, a targeted cut in the Reserve Requirement Ratio (RRR) was deployed (also effective from June 28) to provide more liquidity to banks focusing on SMEs businesses and the agriculture sector.