PBoC cuts rates in bid to buffer impact of virus

The People’s Bank of China

The People’s Bank of China

The Chinese central bank cut two policy rates on February 20, in what it said was an effort to reduce the economic impact of the coronavirus outbreak.

Indonesia’s central bank also cut its policy rate ahead of a virus impact on the same day.

These moves follow recent cuts by the central banks of Thailand and the Philippines, which both lowered key policy rates by 25 basis points in early February. Asian central banks are worried that a coronavirus outbreak could seriously hamper growth

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