PBOC Shifts Main Policy Rate to Overnight Lending Rate
China's central bank injected 541 billion yuan ($81.3 billion) into the banking system on Monday as it formally shifted its main policy rate to an overnight lending rate. Analysts said the move would ease funding costs and support the economy.
China's central bank injected cash into the banking system on Monday, as it formally shifted its main policy rate to an overnight lending rate, a move analysts said would ease funding costs and support the economy.The People's Bank of China (PBOC) injected 541 billion yuan ($81.3 billion) through o…