Seed­ing the mar­ket

The Daily Telegraph - Business - - Business -

A vil­lager dries har­vested corn in Chongqing, China, as the na­tion’s cen­tral bank aims to boost growth in the econ­omy. The Peo­ple’s Bank of China yes­ter­day in­jected 700bn yuan (£77bn) of loans into the mar­ket and kept bor­row­ing costs steady for a fourth month. The medium-term lending fa­cil­ity is one of the PBOC’s main tools to man­age longer-term liq­uid­ity in the bank­ing sys­tem, and is a guide for the bench­mark Loan Prime Rate.

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