China's central bank has cut benchmark lending rates and lowered the deposit reserve rate on Friday, in a bid to further reduce the social financing cost.
The one-year lending rate and deposit rate, have both downed a quarter percent to 4.35 percent, and 1.5 percent respectively. Other deposit and lending interest rates have also been adjusted accordingly.
Meanwhile, the central bank has also lowered the RMB reserve requirement ratio for banks 0.5 percent to guide a stable and moderate growth for currency credit.
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