The central bank announced a reduction in interest rates and reserve requirement ratio, with a 0.5 percentage point cut to be implemented soon

ChainCatcher news, according to Jinshi reports, on the 24th, the Governor of the People's Bank of China, Pan Gongsheng, announced at a press conference held by the State Council Information Office that the reserve requirement ratio and policy interest rates would be lowered. Recently, the reserve requirement ratio will be reduced by 0.5 percentage points, releasing long-term liquidity of 1 trillion yuan, and there may be another reduction of 0.25-0.5 percentage points at an opportune time before the end of the year. At the same time, the central bank's policy interest rates will be lowered, with the seven-day reverse repurchase operation rate reduced by 0.2 percentage points, guiding the loan market quotation rate (LPR) to decline synchronously.