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China Cuts Key Policy Rate In Surprise Move To Boost Slowing Economy

Por: RTTNews Business June 13, 2023

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The People's Bank of China unexpectedly reduced its short-term borrowing rate on Tuesday and authorities are expected to add more stimulus in the days ahead by way of a cut to the benchmark lending rate as several economic indicators have revealed a sagging after the post-pandemic reopening turned out to be quite tepid. The PBoC cut the seven-day reverse repo rate to 1.90 percent from 2.0 percent. This was the first lowering since a similar... + full article



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