The PBOC cut the one-year rate on its medium-term lending facility (MLF) by 5 basis points to 3.25 per cent. Photo: Reuters
China needs bigger rate cuts beyond latest small move to support economy, analysts say
- The People’s Bank of China cut the medium-term lending facility rate by 5 basis points on Tuesday, the first reduction in more than three and a half years
- The move could mark the beginning of a series of rate cuts to avert a further slowdown in the economy, analysts say
Topic |
China economy
The PBOC cut the one-year rate on its medium-term lending facility (MLF) by 5 basis points to 3.25 per cent. Photo: Reuters