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The People's Bank of China has decided to reduce the interest rate on the excess deposit reserve of financial institutions in the central bank by April 2020

發(fā)布時(shí)間:[2020-4-5 13:38:52]    瀏覽量:2191次
In order to support the development of the real economy, promote greater support for small and medium-sized micro-enterprises and reduce the actual cost of social financing, the People's Bank of China has decided to reduce the deposit reserve ratio by 1 percentage point for rural credit cooperatives, rural commercial banks, rural cooperative banks, village banks and urban commercial banks operating only within the provincial administrative areas. It will be implemented in two stages on April 15 and May 15, each by 0.5 percentage point, releasing a total of about 400 billion yuan of long-term funds. The People's Bank of China has decided to cut the interest rate on excess deposits of financial institutions in the central bank from 0.72% to 0.35% from April 7.
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