PBoC lowers rate for SMEs after trade hiccup

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PBoC lowers rate for SMEs after trade hiccup

Rebecca Feng
May 06, 2019 10:30 AM
pboc 230px.
People walk past the China's central bank or People's Bank of China in Beijing Tuesday, Aug. 11, 2015. China devalued its tightly controlled currency on Tuesday following a slump in trade, triggering the yuan's biggest one-day decline in a decade. (AP Photo/Andy Wong) | Andy Wong/AP/Press Association Images

The People’s Bank of China (PBoC) will lower the reserve requirement ratio for small and medium sized firms, it said on Monday morning. The central bank announced the move amid worsening trade negotiations with the US.

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