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PBOC Likely To Cut RRR Friday: Daily

MNI (Singapore)

The People’s Bank of China may cut the reserve requirement ratio on Friday, taking the window opportunity before the Federal Reserve hikes interest rates and shrinks its balance sheet again, the Securities Daily reported citing Wen Bin chief researcher of Minsheng Bank. The probability of policy rate cut in April will be reduced accordingly if RRR was cut this month, the newspaper said citing Wen. A RRR cut can provide banks with sufficient funds to allocate treasury bonds and local government special bonds, coordinating with the fiscal efforts to promote investment, the newspaper said citing Wen.

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