The People’s Bank of China Governor Yi Gang said the bank was focused on raising banks’ capital to increase their lending capacity. Photo: EPA-EFE
The People’s Bank of China Governor Yi Gang said the bank was focused on raising banks’ capital to increase their lending capacity. Photo: EPA-EFE

China cuts interest rate slightly in latest fine-tuning of economic stimulus

  • The People’s Bank of China cut its one-year and five-year Loan Prime Rate by 5 basis points on Wednesday, as expected
  • China’s central bank ordered state-owned banks to use the new rate to lower lending costs to help shore up the slowing economy

The People’s Bank of China Governor Yi Gang said the bank was focused on raising banks’ capital to increase their lending capacity. Photo: EPA-EFE
The People’s Bank of China Governor Yi Gang said the bank was focused on raising banks’ capital to increase their lending capacity. Photo: EPA-EFE
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