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PBOC Cuts Reserve Requirement Ratio By 0.5pp


The PBOC has cut banks' reserve requirement ratio by 50bp, effective July 15, wires report. The weighted avg RRR for all financial institutions will be 8.9% after the new cut.

  • USD/CNH inching to the best levels of the session on that headline, but no huge move in global risk assets, as this adjustment was largely telegraphed by the China State Council statement earlier in the week.

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