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Global Business News

The Economic Times

Global Business / The Economic Times

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China lowers funding costs with shift to overnight policy rate

China's central bank has implemented a major alteration to its monetary policy by establishing an overnight lending rate, which injects substantial liquidity into the banking sector. This initiative seeks to alleviate costs for financial entities and stimulate economic growth in light of increased credit risks. Experts estimate this change could lower interest rates by 15 basis points, thereby maintaining profitability among financial institutions.

2 Nov 2026 8:02 am