24/09/2024 10:20 (UTC)
Beijing, Sep 24 (EFE).- China's central bank will cut the interest rate on seven-day reverse repurchase agreements from 1.7 percent to 1.5 percent. The aim is to stimulate credit and investment in the economy.People's Bank of China governor Pan Gongsheng also announced plans to cut the reserve requirement ratio by 0.5 percentage points. This will free up about 1 trillion yuan (about 127.83 billion euros) for new lending. (Camera: HAO WU). FOOTAGE SHOWS PEOPLE WALKING IN THE CITY OF BEIJING, CHINA.
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