The People's Bank of China slashed major policy rates on Tuesday as economic data suggested that the second-largest economy is still struggling to regain strength amid fears of another slump in the real estate sector.
The Chinese central bank reduced the one-year medium-term lending facility, or MLF, to 2.50 percent from 2.65 percent. The bank had lowered the MLF by 10 basis points in June.
The apex bank also cut the seven-day reverse repo rate by 10 basis points to 1.8 percent.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.