This is, in effect, a slight easing in policy from the People's Bank of China.
Do note that this is part two of a cut already announced.
More:
- says will implement prudent monetary policy, strengthen counter-cyclical adjustments
- will make monetary policy more forward-looking, flexible, targeted
- will make monetary policy neither too tight nor too loose
- will keep liquidity reasonably ample
- will achieve reasonable growth in credit, total social financing
Headlines via Reuters
more to come