Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. Photo: Reuters
Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. Photo: Reuters

China quietly cuts borrowing costs while keeping rates on hold

  • The PBOC has been quietly guiding interbank borrowing costs down without actually cutting official interest rates
  • The latest move is a record one-day injection of 560 billion yuan in cash into the market

Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. Photo: Reuters
Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. Photo: Reuters
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