China's central bank lowered on Monday the interest rate on reverse repurch...
FILE PHOTO: A Chinese national flag flies at the headquarters of the People's Bank of China, the country's central bank, in Beijing, China, January 19, 2016. REUTERS/Kim Kyung-Hoon/File Photo
SHANGHAI - China’s central bank lowered on Monday the interest rate on reverse repurchase agreements by five basis points, the first reduction in the short-term liquidity tool in more than four years. The People’s Bank of China said on its website that it was lowering the seven-day reverse repo rate to 2.50% from 2.55%.
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