China to cut interest rates on standing lending facility loans on Jan 21 – sources

China to cut interest rates on standing lending facility loans on Jan 21 – sources

© Reuters. FILE PHOTO: A woman walks past the headquarters of the People’s Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. REUTERS/Jason Lee

SHANGHAI (Reuters) – China’s central bank will cut interest rates on its standing lending facility loans for all tenors on Friday, three sources with direct knowledge of the matter said, following similar reductions in other liquidity tools.

The borrowing cost on overnight, seven-day and one-month loans will be lowered by 10 basis points to 2.95%, 3.10% and 3.45%, respectively, according to the sources.

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