Central Bank Morning Report Announces Interest Rate Cut!
Pan Gongsheng announced on Wednesday (May 7) at a press conference introducing the "Package of Financial Policies to Support Stable Markets and Expectations" that the reserve requirement ratio will be reduced by 0.5 percentage points, providing about 1 trillion yuan (approximately 178.58 billion SGD) in long-term liquidity to the market, and that the policy interest rate will be lowered by 0.1 percentage points.
Pan Gongsheng also announced that the interest rate for personal housing provident fund loans will be reduced by 0.25 percentage points.
Will the Federal Reserve also cut interest rates in tonight's meeting??
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