Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent in South Lebanon: One martyred in the Israeli drone strike on a car in the town of Kawnin
Al Mayadeen's correspondent in South Lebanon: Israeli drone targets a car in the town of Kawnin
Naeini: If our national interests are attacked again, our response this time will be stronger and more destructive
Naeini: The war has proven that the settlers are defenseless against Iranian missile and drone forces
Naeini: Trump lacks an understanding of the true strength of the Iranian people and is so deluded as to believe he can change the reality of Iran's victory
Naeini: The defeat led to Trump's confusion and loss of balance, which was reflected in his ill-considered statements
IRGC spokesperson Brigadier General Mohammad Naeini: Trump's statements are a result of his defeat against Iran, and we advise him to abandon absurd policies
Gaza Government Media Office: The number of children martyred due to malnutrition has risen to 66
Saree: Loyal Yemen will not abandon its religious, moral, and humanitarian duties toward the Palestinian people
Saree: Over the past week, we carried out military operations targeting sensitive sites and military installations in Beer al-Sabe', Yafa, and Haifa via a number of ballistic missiles and drones, which were all successful

China CB cuts reverse repo rate to boost economic growth

  • By Al Mayadeen English
  • Source: Agencies
  • 13 Jun 2023 10:22
2 Min Read

After injecting 2 billion Yuan into the Chinese economy the People's Bank of China has lowered a key interest rate to boost growth and spending.

  • x
  • Shoppers walk outside a shopping mall complex during China's “Golden Week” holiday in Beijing, China, October 2 2020. (AFP)
    Shoppers walk outside a shopping mall complex during China's “Golden Week” holiday in Beijing, China, October 2 2020 (AFP)

In a move to bolster China's economy, the People's Bank of China (PBOC) has unexpectedly slashed a key interest rate.

The central bank announced a reduction in the seven-day reverse repo rate from 2.0 percent to 1.9 percent, marking the first such adjustment since August of the previous year.

The seven-day reverse repo rate represents the short-term interest paid by the central bank on loans received from commercial lenders. By lowering this rate, the PBOC aims to boost the domestic money supply and stimulate spending across various sectors.

Economists had anticipated monetary easing measures in the near future, however, in the form of a reduction in the required reserve ratio rather than an interest rate cut, according to Julian Evans-Pritchard, an economist at Capital Economics.

Chinese authorities have recently reported a series of economic indicators, which show a slowdown in the nation's post-Covid recovery plan.

In May, consumer prices rose by a mere 0.2 percent year-on-year, and factory activity contracted for the second consecutive month.

While Beijing has maintained low-interest rates compared to other major economies in Europe and the US, near-zero inflation presents a significant challenge for policymakers as they strive to stimulate growth and spending.

In a bid to encourage the latter, China's six largest state-owned commercial banks also reduced interest rates for savers after being directed to do so by the central bank.

The PBOC's decision to cut the seven-day reverse repo rate on Tuesday suggests that further reductions in key interest rates, such as the one-year medium-term lending facility rate and the loan prime rate, are likely to follow later this month, according to Ting Lu, Chief China Economist at Nomura, a Japanese financial holding company.

The PBOC injected 2 billion yuan ($279.97 million) into the economy through the short-term bond instrument which reduced the reverse repo rate.

  • People's Bank of China
  • Global economy
  • Beijing
  • inflation
  • China
  • Chinese economy

Most Read

Iranian President Masoud Pezeshkian attends a protest following the US attacks on nuclear sites in Iran, in Tehran, Iran, Sunday, June 22, 2025. (AP)

Iran declares victory as ceasefire forces Israeli retreat

  • Politics
  • 24 Jun 2025
Israeli workers survey the site where a missile launched from Iran struck in Haifa on Sunday, June 22, 2025. (AP)

True Promise 3, wave 20: 40 missiles launched, Kheibar-Shekan in first

  • Politics
  • 22 Jun 2025
Iran launches strikes on Israeli targets, despite alleged ceasefire

Iran victorious as ceasefire with 'Israel' takes effect

  • Politics
  • 24 Jun 2025
Iranian worshippers carry their country's flags in a protest to condemn Israeli attacks on multiple cities across Iran, after the Friday prayers ceremony in Tehran, Iran, Friday, June 20, 2025. (AP)

Iran warns of NPT withdrawal, Strait of Hormuz closure after US attack

  • Politics
  • 22 Jun 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Israeli occupation soldiers search for settlers amid the rubble of buildings destroyed by an Iranian missile strike in Bat Yam, central occupied Palestine, on Sunday, June 15, 2025 (AP)
Politics

Iran missile strike flattens Bat Yam, displaces 2,000 settlers

Palestinian fighters from the Islamic Jihad militant group riding on a truck with weaponry on display take part in an anti-Israel parade marking the 36th anniversary of the movement's founding, in Gaza City, Wednesday, Oct. 4, 2023 (AP)
Politics

Palestinian Resistance attacks Israeli forces in Khan Younis, Jabalia

Iranian Foreign Minister Abbas Araghchi stands waiting to meet Russian President Vladimir Putin for the talks at the Kremlin in Moscow, Russia, Monday, June 23, 2025 (AP)
Politics

Iran suspends IAEA cooperation, Araghchi blames Grossi for attacks

The commander of the Quds Force's Palestine Unit, Brigadier General Mohammad Said Izadi (Illustrated by Mahdi Rtail for Al Mayadeen English)
Politics

Who was Mohammad Said Izadi, head of the Quds Force's Palestine Unit?

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS