PBOC Said to Lower Cost of Loans to Smaller and Rural Firms

China’s central bank is set to cut the interest rates of some of its lending programs from Wednesday to lower the borrowing costs of small businesses, according to people familiar with the matter.

The People’s Bank of China will cut the interest rates of both its relending and rediscounting programs for small firms and agriculture-related firms, the people said, asking not to be named as they’re not authorized to speak on the matter. The news was earlier reported by Securities Times. The cut is effective July 1.