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The People's Bank of China injects 140 billion yuan into the financial system
The People's Bank of China (PBoC) injected 140 billion yuan (about €19 billion) into the financial system via a short-term liquidity operation on Wednesday. The central bank wants to support the country's economy and to calm down the markets.
The PBoC lowered the one-year benchmark bank lending rate by 25 basis points to 4.6% on Tuesday. One-year benchmark deposit rates were cut by 25 basis point, reserve requirements (RRR) were lowered by 50 basis points to 18% for most big banks.
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