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CHINA PRESS: PBOC Likely To Cut RRR By end-2024 - Analyst

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 by year-end to release up to CNY1 trillion long-term funds, which will also meet the liquidity needs during the Chinese New Year in January, National Business Daily reported citing Wang Qing, analyst at Golden Credit Rating. Under the tone of “moderately loose” monetary policy, the PBOC is expected to cut the policy interest rate by 0.5 pp in 2025, higher than 2024’s 0.3pp cut, said Wang, noting that this will guide down Loan Prime Rate quotations. The interest rates of various structural monetary tools will also be lowered in due course, Wang added.

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The People’s Bank of China is likely to cut the reserve requirement ratio by 0.25-0.5 percentage points by year-end to release up to CNY1 trillion long-term funds, which will also meet the liquidity needs during the Chinese New Year in January, National Business Daily reported citing Wang Qing, analyst at Golden Credit Rating. Under the tone of “moderately loose” monetary policy, the PBOC is expected to cut the policy interest rate by 0.5 pp in 2025, higher than 2024’s 0.3pp cut, said Wang, noting that this will guide down Loan Prime Rate quotations. The interest rates of various structural monetary tools will also be lowered in due course, Wang added.