People’s Bank of China Governor Pan Gongsheng:
must coordinate monetary and fiscal policiesmust support steady recovery of prices in the economyby year end we might cut RRR rate furtherafter RRR cut financial weighted ratio for large banks will be reduced to 8%MLF will be lowered by 0.3%LPR will be lowered by 0.2 to 0.25%
Earlier:
PBOC and other senior economic officials press briefing underwayPeople’s Bank of China will soon cut reserve requirement ratio by 50bpPeople’s Bank of China will soon cut 7-day reverse repo to 1.5% from 1.7%
Chinese stock markets have run higher on the promises of cuts to come.
This article was written by Eamonn Sheridan at www.forexlive.com.
