BEIJING — China’s central bank is expected to cut key rates soon, following a directive from a meeting led by the country’s second-in-command, Premier Li Keqiang.
Li chaired an executive meeting of China’s highest administrative body, the State Council, on Tuesday.
In an announcement on Wednesday, the country’s leaders stressed the need for improving financial support for businesses hit by the new coronavirus, including lowering the reserve requirement ratio (RRR) — the amount that banks need to keep on hand.