The People’s Bank of China (PBOC) said that it had lowered interest rates on its standing lending facility (SLF) for April by 30 basis points, tracking similar reductions in other liquidity tools as Beijing continued to support the economy battling with the coronavirus outbreak. In its first-quarter monetary policy report published on Sunday, the bank mentioned that borrowing costs on overnight, seven-day and one-month loans were slashed to 3.05%, 3.2%, 3.55%, respectively.
