China's Central Bank Implements First Seven-Day Reverse Repo Rate Cut Since August.
The People's Bank of China has cut its seven-day reverse repurchase rate by 10 basis points, from 2% to 1.9%, for the first time since August. The move injects 2 billion yuan ($279.97 million) through its 7-day repos and is aimed at providing short-term borrowing for dealers in government securities.