People's Bank of China is poised to lower the borrowing rates by 0.5-1 percentage point for some eligible banks next Monday, which is expected to inject 550 billion yuan (HK$611.9 billion) of long-term funds into the market. Besides, the central bank will cut the borrowing cost by another 1 percentage point for eligible joint-equity commercial banks to support inclusive financing. The PBOC expects the injection will save a 8.5 billion yuan of interest cost for the covered banks and will help lower the real borrowing rate for small and micro-sized enterprises and private enterprises.

Source: The Standard March 13, 2020 10:41 UTC