MNI: PBOC Net Injects CNY25.7 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1897 Thurs; -2.25% Y/Y

MNI: PBOC Net Drains CNY195.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1868 Weds; -2.18% Y/Y

MNI: JAPAN NOV SERVICES PPI +3.0% Y/Y; OCT UNREV +2.9%

MNI China Daily Summary: Tuesday, December 24

MNI: US REDBOOK: DEC STORE SALES +5.0% V YR AGO MO

MNI: US DEC PHILADELPHIA FED NONMFG INDEX -6

EZ/UK Bond Supply Calendar: BOE APF Sales Due 6 January

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CHINA PRESS: PBOC To Cut RRR Soon - Analysts

CHINA PRESS
EM BulletAPACChinaEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

The People’s Bank of China is likely to cut the reserve requirement ratio by 0.25-0.5 percentage points soon to ease funding pressure following increased local government bond sales in the first half of December and offset the maturity of CNY1.45 trillion of medium-term lending facilities next month, Securities Daily reported citing analysts. The PBOC rolled over the CNY1.45 trillion November MLF maturity with only CNY900 billion MLF on Monday, which signaled an RRR cut by year-end. It will also help reduce the liability costs of commercial banks as the current MLF rate of 2% is higher than the one-year certificate of deposit rate of about 1.87%, the newspaper said citing analysts.

111 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

The People’s Bank of China is likely to cut the reserve requirement ratio by 0.25-0.5 percentage points soon to ease funding pressure following increased local government bond sales in the first half of December and offset the maturity of CNY1.45 trillion of medium-term lending facilities next month, Securities Daily reported citing analysts. The PBOC rolled over the CNY1.45 trillion November MLF maturity with only CNY900 billion MLF on Monday, which signaled an RRR cut by year-end. It will also help reduce the liability costs of commercial banks as the current MLF rate of 2% is higher than the one-year certificate of deposit rate of about 1.87%, the newspaper said citing analysts.