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

  Author: Jinyue Dong, Le Xia ( BBVA Research )
 June, 2015
  Price: FREE


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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