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PBOC Head Projects Further RRR Cut by 0.25-0.5 ppts Likely by Yr End
The Governor of the People's Bank of China (PBOC), Pan Gongsheng, said at the Annual Conference of Financial Street Forum 2024 that the reserve requirement ratio (RRR) had alre...
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PBOC Head Projects Further RRR Cut by 0.25-0.5 ppts Likely by Yr End
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The Governor of the People's Bank of China (PBOC), Pan Gongsheng, said at the Annual Conference of Financial Street Forum 2024 that the reserve requirement ratio (RRR) had already been lowered by 0.5 ppts on September 27.

He expected that there is still an opportunity to further lower the RRR by 0.25-0.5 ppts before the end of the year, depending on market liquidity conditions; lower the seven-day reverse repo rate in the open market by 0.2 ppts; and lower the medium-term lending facility (MLF) rate by 0.3 ppts.

Related NewsICBC (01398.HK) 3Q NP Hikes 3.8% to RMB98.558B
After a number of state-owned commercial banks in China announced this morning that they would lower deposit interest rates, it is expected that the loan prime rate (LPR) to be announced next Monday (21st) will also decrease by 0.2-0.25 ppts, Pan also revealed.

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