June 30, 2020 / 9:45 AM / 7 days ago

China cbank to cut re-discount, relending rates from July 1 -Securities Times

BEIJING, June 30 (Reuters) - China’s central bank will cut the re-discount and re-lending rates by 25 basis points as of July 1, a move that will reduce funding costs for smaller firms and rural sectors, the Securities Times reported on Tuesday.

The central bank will also cut the re-lending rate related to financial stability by 50 basis points, the government-backed newspaper reported. (Reporting by Roxanne Liu, Judy Hua and Kevin Yao; writing by Se Young Lee; Editing by Andrew Heavens)

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