(Bloomberg) China’s central bank has reduced the rate on the shorter-term emergency policy loan or standing lending facility by 10 basis points to 2.9%.
The central bank also cut the seven-day and one-month interest rates by a similar margin.
The rate on SLF moves together with other key rates, such as the seven-day reverse repurchase rate and the medium-term one-year lending facility.
SLF was introduced in 2013 and is considered as the upper limit of the interest rate by the People’s Bank of China. PBOC uses the rate to guide other market rates.
CSI 300 is down -0.92%, USDCNY is down -0.04%.
