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Also worth reminding that the second half.....>

CHINA
CHINA: Also worth reminding that the second half of the PBoC's 100bp targeted
RRR cut, announced in early April, goes into effect today.
- Today's step in the targeted RRR should release ~CNY200bn of liquidity, with
the cumulative 100bp of cuts seen over the last month of so releasing ~CNY400bn.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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