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.
(Reporting by Xiangming Hou and Ryan Woo in Beijing and Hongwei Li and Steven Bian in Shanghai; Editing by Jacqueline Wong)
