People waiting to be tested for the coronavirus in Wuhan. China has injected US$7 billion into its economy after the outbreak. – AFP pic, March 30, 2020.
CHINA’S central bank today cut an interest rate on loans to banks by the largest margin in five years and injected 50 billion yuan into the financial system to help the world’s second-largest economy weather the coronavirus impact. The People’s Bank of China said it launched a 50-billion-yuan reverse repurchase operation today and lowered the seven-day reverse repurchase rate from 2.4% to 2.2%.
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