PBOC Cut Policy Rate as Economic Recovery Hampered by Pandemic and Power Shortage

<p>China is going against the global tide of normalization of monetary policy. The PBOC announced to cut the one-year loan prime rate (LPR) by -5 bps to 3.8%, first time April 2020. This, together with the reduction in RRR and increase RRR on foreign currencies earlier this month, indicates that the country’s economic recovery is […]</p>
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