BEI­JING:

The Pak Banker - - FRONT PAGE -

The Peo­ple's Bank of China moved to ease the econ­omy fur­ther on Wed­nes­day, say­ing it will in­ject 140 bil­lion yuan ($21.80 bil­lion) into the fi­nan­cial sys­tem through a short-term liq­uid­ity ad­just­ment (SLO) op­er­a­tion.

The SLO loans come with a 2.3% in­ter­est rate. Short-term liq­uid­ity oper­a­tions were launched by the PBOC in 2013 to re­duce fluc­tu­a­tions in liq­uid­ity and sta­bi­lize in­ter­bank fund­ing costs. Wed­nes­day's move comes a day af­ter the Chi­nese cen­tral bank cut its bench­mark in­ter­est rates.

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