Bloomberg China’s central bank injected medium-term funding into the financial system on Wednesday and cut the cost of the funds as expected, bolstering measures aimed at countering the economic fallout from the coronavirus pandemic. The People’s Bank of China offered 100 billion yuan ($14 billion) via the one-year medium-term lending facility, cutting the rate to 2.95% from 3.15%. The reduction ...

Bloomberg More than one in ten mortgage borrowers in the UK have taken a payment holiday, less than a month after banks offered relief to those affected by the coronavirus pandemic. About 1.2 million customers were granted a mortgage holiday between March 17 and April 8, according to lobby group UK Finance. Banks trebled the number of breaks they gave ...

Bloomberg South Africa’s central bank unexpectedly cut its benchmark interest rate to a record low to support an economy that’s projected to slump even deeper into recession after the government extended a nationwide lockdown in response to the coronavirus. The repurchase rate was reduced to 4.25% from 5.25%, the South African Reserve Bank said in an emailed statement. The decision ...