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CN Cuts Refinancing Rate by 0.25 ppts w/ Immediate Effect
In order to better utilize the incentive effect of structural monetary policy tools and guide financial institutions to increase their support for major strategies, key areas and w...
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CN Cuts Refinancing Rate by 0.25 ppts w/ Immediate Effect
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In order to better utilize the incentive effect of structural monetary policy tools and guide financial institutions to increase their support for major strategies, key areas and weak links, the People's Bank of China (PBOC) decided to lower the refinancing rate by 0.25 ppts starting from today (7th).

After the reduction, the interest rates for 3-month/ 6-month/ 1-year re-loans in support of agriculture and micro and small enterprises will be 1.2%/ 1.4%/ 1.5% each, while the pledged supplementary lending (PSL) will be 2%, with the interest rate for special structural monetary policy instruments to be 1.5%.

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