PBOC Issues 300 Billion Yuan Loans at 2.00% to Support Banks”

China’s central bank lends 300 billion yuan at 2.00% interest to boost banks. Find out how this affects the economy in our latest report!

china cenbank conducts medium term loan operation leaves rate unchanged

On Wednesday, China’s central bank, called the People’s Bank of China (PBOC), did something important for banks. They provided 300 billion yuan (about $41 billion) in loans to help these banks keep lending money. The interest rate for these loans is 2.00%, which is the same as before. When banks applied for the loans, the interest rates they offered ranged from 1.90% to 2.30%. This action comes because a large amount of loans, about 1.45 trillion yuan, are set to be paid back this month.

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