PBOC cuts SLF interest rates by 20bps, lowers reserve ratio and reverse repo rate.

On September 27, the People's Bank of China (PBOC) cut the standing lending facility (SLF) interest rates by 20 basis points, setting the overnight, seven-day, and one-month rates at 2.35%, 2.5%, and 2.85%, respectively. This reduction, part of efforts to enhance economic support, was accompanied by a 0.5 percentage point decrease in the reserve requirement ratio and a similar cut in the seven-day reverse repo rate.

September 27, 2024
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