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PBOC Likely To Cut RRR In Q4

CHINA PRESS
MNI (Singapore)

The People’s Bank of China will likely cut the reserve requirement ratio in Q4 to create a suitable liquidity environment for government bond issuance. Net government bond financing in Q4 will increase by about CNY1.5 trillion compared to the same period last year, after Beijing announced plans to issue an additional CNY1 trillion in treasury bonds this week. Meanwhile, the maturity of a total CNY1.5 trillion of medium-term lending facilities in November and December also increases the possibility of a RRR cut in Q4, said Ming Ming, chief economist at CITIC Securities. (Source: China Securities Journal)

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