BEIJING; China's central bank on Monday (Mar 30) cut an interest rate on loans to banks by the largest margin in five years and injected 50 billion yuan (US$7 billion) into the financial system to help the world's second-largest economy weather the coronavirus impact.
The People's Bank of China (PBoC) said it launched a 50-billion-yuan reverse repurchase operation on Monday and lowered the seven-day reverse repurchase rate from 2.40 per cent to 2.20 per cent.