China cut interest rates for standing lending facility loans in April

SHANGHAI (Reuters) - China's central bank said it lowered interest rates on its standing lending facility (SLF) in April, catching up with similar reductions in other liquidity tools as part of Beijing's efforts to support the coronavirus-hit economy.In the first-quarter monetary policy report published on Sunday, the People's Bank of China (PBOC) said it had cut SLF rates by 30 basis points on April 10, bringing borrowing costs on overnight, seven-day and one-month loans to 3.05%, 3.2%, 3.55%,..