Recent Releases

PBoC Moves to Daily Open Market Operations
The People Bank of China will conduct open market operations on a daily basis, aiming to improve the effectiveness of the operations, policymakers announced on February 18th 2016.
Published on 2016-02-18

PBoC Injects USD 15.2 Billion into Economy
China’s central bank injected CNY 100 billion (USD 15.2 billion) into the financial system via reverse repos on February 2nd 2016. The central bank increased the frequency of open market operations between January 29 and February 19 to maintain liquidity before and during the Lunar New Year holidays.
Published on 2016-02-02

PBoC Injects USD 19.9 Billion into Economy
China’s central bank injected CNY 130 billion (USD 19.9 billion) into the financial system via seven-day reverse repos at an interest rate of 2.25 percent on January 5th 2016. It is the biggest cash injection since September aiming to calm markets.
Published on 2016-01-05

China Cuts Key Rate by 0.25%
The People's Bank of China cut its benchmark one-year lending rate by 25bps to 4.35 percent on October 23rd, 2015, aiming to bolster the economy. Policymakers also decided to lower reserve requirements for banks.
Published on 2015-10-23

PBoC Injects Further USD 9.4 Billion into Economy
China’s central bank injected an additional CNY 60 billion (USD 9.4 billion) into the interbank money market via short-term liquidity operations (SLOs) on August 28th 2015.
Published on 2015-08-28

PBoC Injects USD 22 Billion via SLOs
China’s central bank injected CNY 140 billion (USD 21.8 billion) into the interbank money market, another measure aiming to manage cash supply and ease extreme volatility in stock markets.
Published on 2015-08-26

China Cuts Rates
The People's Bank of China cut its benchmark one-year lending rate by 25bps to 4.6 percent on August 25th, 2015. Policymakers also decided to lower reserve requirements for banks.
Published on 2015-08-25

China Cuts Benchmark Interest Rate to 4.85%
The Peoples' Bank of China has cut benchmark interest rates to a record low of 4.85 percent effective June 28th and lowered the amount of reserves certain banks are required to hold following Friday's stock market slump.
Published on 2015-06-27

China Cuts Interest Rate to 5.1%
The People's Bank of China cut its benchmark lending rates by 25 basis points to 5.1 percent on May 10th. It is the third reduction since November prompted by low growth, declining property prices.
Published on 2015-05-10

China Cuts Reserve Ratio by 1%
The People’s Bank of China lowered the reserve requirement ratio for all commercial banks by 100 bps to 18.5 percent, aiming to boost credit and growth.
Published on 2015-04-20

China Cuts Benchmark Interest Rate to 5.35%
The People’s Bank of China cut the one-year lending rate by 25 basis points to 5.35 percent on February 28th amid rising deflationary pressure, low growth and declining property prices.
Published on 2015-02-28

China Cuts Reserve Ratio by 0.5%
The People’s Bank of China lowered the reserve requirement ratio for all commercial banks by 50 bps to 19.5 percent on February 4th, aiming to boost credit and growth.
Published on 2015-02-04

China Cuts Interest Rates
The People´s Bank of China decided to cut its benchmark one-year lending rate by 40 bps to 5.6 percent on November 21st. It is the first rate cut in more than two years as the economy slows.
Published on 2014-11-21

PBoC Injects USD 81 Billion into Major 5 Banks
China’s central bank is said to be injecting CNY 500 billion (USD 81 billion) into the banking system, aiming to support credit and growth.
Published on 2014-09-17

China Cuts Reserve Ratio for Rural Banks
The People's Bank of China decided to cut the reserve requirement ratio by 2 percentage points for rural commercial banks and by 0.5 percentage point for rural credit cooperatives, aiming to stimulate growth in some parts of the country. The cut will be effective from April 25th, 2014.
Published on 2014-04-22

PBOC Widens Yuan’s Daily Trading Band
People’s Bank of China decided on March 15th, 2014 to widen the trading band, allowing the Yuan to fluctuate by 2 percent from the parity daily, up from the previous 1 percent target. The decision, effective from March 17th aims to enable the market to play its roles and make the Yuan a freer currency.
Published on 2014-03-17

People’s Bank of China Drains Funds to Curb Lending Surge
On February 18th, 2014, People’s Bank of China drained CNY 48 billion (USD 7.9 billion) from money markets to absorb liquidity, as bank lending jumped more than expected in January.
Published on 2014-02-18

China Interbank Rate Declines as PBOC Injects Cash
China’s benchmark money-market rate declined 88 basis points to a weighted average of 5.4 percent on January 21st as the People's Bank of China injected more than 255 billion yuan (USD 42 billion) to meet cash demand. The day before, the seven day repo rate reached as high as 7.5 percent.
Published on 2014-01-21

China’s Money Markets Stay Calm
Following People’s Bank of China injection of Rmb29bn ($4.8bn) into the financial system on December 24th, calm returns to China’s money markets and no open-market operations were conducted by the central bank on December 26th.
Published on 2013-12-26

China Cash Crunch Eases
The People’s Bank of China injected Rmb29bn ($4.8bn) into the financial system via open-market operations on December 24th, providing immediate relief to the money market.
Published on 2013-12-24

China's Interbank Rates Surge
China's short term interest rates continue to rise on December 23rd despite 300 billion renminbi injection by the central bank.
Published on 2013-12-23

People’s Bank of China Acts to Ease Liquidity Fears
The Chinese central bank has made an emergency money injection on December 19th after the benchmark money-market rate jumped the most since June.
Published on 2013-12-19

People’s Bank of China Resumes Injecting Cash
On October 29th, China central bank moved to ease cash crunch fears by injecting Rmb13bn to the economy for the first time since October 15th easing worries that the authorities were preparing to tighten monetary policy.
Published on 2013-10-29

Money Market Rates Surge in China
China’s seven-day repurchase rate has jumped the most since July as The People's Bank of China's abstained from open market operations this week in order to tamp rising inflationary pressure.
Published on 2013-10-24

People’s Bank of China Provides Liquidity to Distressed Banks
On June 25th, the People's Bank of China finally took a more active stance towards the extreme liquidity crunch that had engulfed the Chinese banking sector in recent days. The bank said it had provided liquidity to some financial institutions and would use short-term liquidity operations and standing lending-facility tools to ensure steady markets.
Published on 2013-06-25

The People's Bank of China Reaffirms Liquidity at ‘Reasonable Level’
The Chinese central bank made its first direct comment about last week's cash crunch on June 24th, ordering country’s commercial banks to improve their credit risk and liquidity management procedures and to do more to help restore credit in the market.
Published on 2013-06-24

China Cuts Interest Rate to 6%
China's central bank lowered interest rates for the second time in less than a month to bolster an economy widely expected to record its sixth successive slide in growth in the second quarter.
Published on 2012-07-09

China Raises Interest Rates
People's Bank of China increased interest rates for the third time this year on July 6, making clear that taming inflation is a top priority even when as the economy slows.
Published on 2011-07-06

China Raises Interest Rates
China has raised interest rates for the fourth time in five months as the government struggles to reduce bank lending, rein in inflation and slow economic growth to a more sustainable pace.
Published on 2011-04-05

China Raises Interest Rates
China's central bank raised interest rates on February 8, its second increase in just over a month, intensifying its fight against stubbornly high inflation.
Published on 2011-02-08

China Raises Interest Rate to 5.81%
China's central bank has raised its interest rate for the second time in just over two months as the nation fights to keep inflation in check.
Published on 2010-12-26

China Decides to Raise RMB Reserve Requirement
In order to strengthen liquidity management and control moderately money and credit supply, the PBC has decided to raise the RMB reserve requirement ratio for depository financial institutions by 0.5 percentage points, effective from Nov. 29, 2010.
Published on 2010-12-10

China Raises Bank Reserve Ratio Third Time This Year
China ordered banks to set aside more deposits as reserves for the third time this year, seeking to counter the risk of property bubbles and the threat inflation will surge after a record expansion in credit.
Published on 2010-05-02

China Raises Bank Reserve Requirement to Cool Economy
China ordered banks to set aside more deposits as reserves for the second time in a month to cool the fastest-growing economy after loan growth accelerated and property prices surged.
Published on 2010-02-12

China Central Bank Surprises with Yield Hike
China's central bank surprised markets on Thursday by raising the interest rate on its three-month bills for the first time since August, intensifying its grip on liquidity a day after it promised to keep credit growth in check.
Published on 2010-01-07

China's Central Bank Reassures on Monetary Policy
China's central bank pledged to maintain loose monetary policy to support the economy and said it would ensure sustainable credit growth without resorting to heavy-handed quotas to rein in a lending spree.
Published on 2009-07-30

China Cuts Key Rates
China cut interest rates for the fifth time in three months to support the world’s fourth-biggest economy after trade growth collapsed because of recessions in the U.S., Europe and Japan.
Published on 2008-12-22

China Slashes Lending Rate
China lowered its key lending rate by the most in 11 years, extending efforts to prevent an economic slump less than three weeks after unveiling a 4 trillion yuan ($586 billion) stimulus plan.
Published on 2008-11-26

China Cuts Interest Rates
China cut interest rates for the third time in two months to stimulate growth in the world's fourth-largest economy after the global financial crisis curbed exports and production.
Published on 2008-10-29

China Cuts Interest Rate for 2nd Time in Three Weeks
China cut interest rates for the second time in three weeks as the global financial crisis threatened to undermine the world's fourth-largest economy.
Published on 2008-10-08

China Cuts Rates
China cut interest rates for the first time in six years and allowed most banks to set aside smaller reserves as worsening credit-market turmoil and weakening export demand dim the outlook for economic growth.
Published on 2008-09-15

China's Swap Rates Decline
China's swap rates fell to a three- month low on speculation the central bank will lower the reserve requirement for lenders to spur economic growth.
Published on 2008-08-26

China Raises Rates Again in Inflation Fight
China raised its benchmark interest rates on Thursday for the sixth time this year, the latest in a series of tightening steps to contain inflation and prevent the world’s fourth-largest economy from overheating.
Published on 2007-12-20

China Raises Rates for Fifth Time to Cool Economy
China raised interest rates for the fifth time since March to curb the fastest inflation since 1996 and damp speculation in stocks and real estate.
Published on 2007-09-14

China Raises Rates for a Fourth Time This Year
China raised interest rates for a fourth time this year to cool the world's fastest-growing major economy after inflation and money supply surged. The benchmark one-year lending rate will increase to 7.02 percent from 6.84 percent. The one-year deposit rate will rise to 3.6 percent from 3.33 percent.
Published on 2007-08-21

Rapid growth prompts China rate rise
China raised interest rates on July 20 in the latest of a series of tightening steps aimed at keeping inflation in check and preventing the world’s fourth-largest economy from overheating.
Published on 2007-07-20

PBOC raises the benchmark interest rate on RMB deposits
The PBOC announced it would raise the benchmark interest rate on RMB deposits and loans effective from March 18, 2007. The one-year benchmark deposit and lending rates were raised by 0.27 percentage points, the former up to 2.79 percent from 2.52 percent and the latter up to 6.39 percent from 6.12 percent.
Published on 2007-06-18