China’s central bank cuts 14-day reverse repo rate from 1.7% to 1.5%

China’s central bank has reduced the interest rate of seven-day reverse repos from 1.7 per cent to 1.5 per cent.
The decision is aimed at guiding the loan prime rate and deposit rates to move downward and maintaining stability in the net interest margin of commercial banks.
Yesterday, it supplied 14-day cash to its banking system for the first time in months and at a lower interest rate.