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China : PBoC aggressively cut interest rate and RRR to support growth

 June, 2015
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Abstract:

The People’s Bank of China (PBoC) cut its benchmark interest rate by 25bps last Saturday, the fourth time since November 2014 and effective from June 28; at the same time, a targeted cut in the Reserve Requirement Ratio (RRR) was deployed (also effective from June 28) to provide more liquidity to banks focusing on SMEs businesses and the agriculture sector.
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