China lowered the rate at which it lends to banks to support the economy deal with the fallout from the coronavirus. Photo: Reuters China lowered the rate at which it lends to banks to support the economy deal with the fallout from the coronavirus. Photo: Reuters
China lowered the rate at which it lends to banks to support the economy deal with the fallout from the coronavirus. Photo: Reuters

Coronavirus: China slashes bank loan rate by biggest amount in five years, joining global easing

  • People’s Bank of China reduces 7-day reverse repo rate to 2.20 per cent from 2.40 per cent, the largest cut since 2015
  • Move comes as analysts expect China’s economy to contract in the first quarter for the first time since 1976

Topic |   China economy
China lowered the rate at which it lends to banks to support the economy deal with the fallout from the coronavirus. Photo: Reuters China lowered the rate at which it lends to banks to support the economy deal with the fallout from the coronavirus. Photo: Reuters
China lowered the rate at which it lends to banks to support the economy deal with the fallout from the coronavirus. Photo: Reuters
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