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China Cuts Key Rate, Reserve Ratio To Aid Economy Hit By Tariffs

The People’s Bank of China cut the seven-day reverse repurchase rate to 1.4% from 1.5%, according to Governor Pan Gongsheng.

Bloomberg News

The decision demonstrates officials are acting with urgency to support the world’s second-largest economy in the face of the US-China trade war. (Source: Bloomberg)

China reduced its policy rate and lowered the amount of cash lenders must keep in reserve, as Beijing ramps up efforts to help an economy caught in a second trade war with the US.

Also Read: Trump Says He’s Willing To Lower China Tariffs At Some Point

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Dream11 Pilots Wealth Management App After Online Gaming Ban

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