China Cuts Policy Interest Rate on Reverse Repos

China's central bank announced a reduction in the policy interest rate for seven-day reverse purchase agreements from 1.8% to 1.7%. The move aims to improve open market operations and provide better support to the real economy through strengthened counter-cyclical adjustments.

The People's Bank of China has announced a cut in the policy interest rate on seven-day reverse purchasing agreements, reducing it from 1.8% to 1.7%.

In its statement, the central bank emphasized its commitment to enhancing open market operations.

Further strengthening of counter-cyclical adjustments is expected to bolster support for China's real economy.