China's Central Bank cuts benchmark interest rates

FXStreet (Mumbai) - After the recent havoc caused in the financial markets by the Chinese stocks crash, the Chinese central bank PBOC slashes key rates in a bid to provide long-term liquidity and hence to boost the economy.

Key Measures unveiled:

China’s Central Bank cuts banks’ reserve requirement ratio by 50 bps

China’s Central Bank cuts reserve requirement ratio for most big banks to 18.0%

China's Central Bank cuts 1-year lending rate by 25 bps to 4.60%

China's Central Bank cuts 1-year deposit rate by 25 bps to 1.75%

China’s Central Bank says reserve requirement ratio cut effective as of Sep 06