China

Coronavirus: China central bank to free up US$57 billion for small lenders in latest effort to help economy



China’s central bank on Friday said it would pump two rounds of funds into rural and regional lenders in the latest “targeted” measure to help the economy amid the coronavirus outbreak.The People’s Bank of China (PBOC) said it would cut the required reserve ratio for the banks on April 15 and May 15, releasing 400 billion yuan (US$57 billion) in total and freeing up more money to lend to rural households and small businesses.The central bank also said it would adjust down the interest rates on…



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