China caps weekly policy easing blitz with fresh rate cuts

China's central bank said on Friday it has cut interest rates on another key monetary policy tool, capping off a week of easing measures that underscore official concern about a darkening outlook for the world's second-largest economy.

 

In a response to Reuters questions, the People's Bank of China (PBoC) said it had trimmed rates on its standing lending facility (SLF) loans by 10 basis points (bps) effective Jan. 17.

The bank said it had lowered the overnight SLF rate to 2.95% from 3.05%, the 7-day rate to 3.10% from 3.20%, and the 1-month rate to 3.45% from 3.55%.