The People's Bank of China cuts Standing Lending Facility (SLF) interest rates

Market news

19 November 2015

The People's Bank of China cuts Standing Lending Facility (SLF) interest rates

The People's Bank of China (PBoC) lowered its seven-day Standing Lending Facility (SLF) interest rate for local financial institutions to 3.25% from 5.5%. The overnight SLF rate for some local financial institutions was cut to 2.75% from 4.5%.

The central bank hopes with this decision to stimulate the country's economy.

The interest rate cut would be effective from November 20.

Gold price climbs on the Fed’s minutes

Preliminary real GDP in the OECD area climbs 0.4% in the third quarter

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