According to the China Securities Times, the PBOC will lower the relending rate for small companies and agricultural companies by 25 basis points starting today. They cite unnamed sources.
The PBOC cut the RRR yesterday and there's talk of an LPR cut this month.
The iron ore market has been surging in recent days in what could be a sign of a pickup in industrial demand but overall, the market reaction to China's RRR cut has been modest.
