The Chinese Central Bank lowered the reverse repo rate by 10 basis points

The CBC announced the decision to lower the 14-day reverse repo rate to 2.25% or 10 bp. A few days ago, the regulator announced a 10 bp cut in the 7-day reverse repo rate as well up to 2.10%. The rate on loans issued under the approved program for issuing credit funds for a period of one year was reduced from 2.95% to 2.85%. The CBC also announced the additional liquidity provision to the country’s banking institutions in the amount of 150 billion yuan, or $23.7 billion. Experts note that the CCB seeks to support the country’s economy. It has been showing signs of slowing growth lately. This comes amid the introduction of tighter restrictions as part of the fight against the omicron spread. The problems in the real estate sector also have a negative impact on the state of the national economy.

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Arseny Kudrin

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