Exciting news from China’s central bank! It was announced on Wednesday that the borrowing cost of its medium-term loans has been lowered, providing a boost to the economy.
The People’s Bank of China (PBOC) made the decision to reduce the rate on 300 billion yuan ($42.66 billion) worth of one-year medium-term lending facility (MLF) loans to certain financial institutions to 2.00% from 2.30%. This move aims to stimulate economic growth and support businesses during these challenging times.
With this adjustment, businesses can access more affordable financing options, which could lead to increased investment and spending in the market. The lowered borrowing cost is a welcome development for many in the financial sector.
Stay tuned for more updates on how this change will impact the economy and businesses in China in the coming months. The central bank’s proactive approach demonstrates its commitment to supporting economic stability and growth in the region.
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