China's central bank reduces standing lending facility interest rates

The seven-day and one-month rates have each been lowered by the same margin, to 2.8 per cent and 3.15 per cent respectively, as per the country’s central bank.

The SLF, a monetary tool implemented by the central bank in early 2013, functions as a channel to provide liquidity to financial establishments in the country. This facility allows these institutions to borrow from the central bank by using qualified bonds and other credit assets as collateral.

ALCHEMPro News Desk (DP)