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PBOC to reduce funding costs for smaller firms and rural sectors from 1 July – report

June 30, 2020 at 10:47AM

PBOC to reduce funding costs for smaller firms and rural sectors from 1 July – report
The Securities Times reports that the PBOC will cut its re-discount and re-lending rates starting from tomorrow
The move will help to reduce funding costs for smaller firms and rural sectors, adding to continued efforts by the central bank and local authorities to bolster economic activity and lessen the burden amid the impact from the virus
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