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PBOC May Pursue Further Easing by Rate and RRR Cuts: Journal

CHINA PRESS
MNI (Singapore)

The People’s Bank of China is expected to further reduce banks’ reserve requirement ratio or cut rates to help boost credit to stabilize growth, said the China Securities Journal in the front-page citing analysts. The PBOC may cut the rate of new medium-term lending facilities when rolling over the maturing MLF on Tuesday, or it may wait until after the Federal Reserve's March meeting, the newspaper said citing Zhang Yu, chief economist with Huachuang Securities. There could be two to three rate cuts and the benchmark one-year Loan Prime Rate could drop by 20 basis points, the newspaper said citing Cheng Shi, chief economist of ICBC International. Further RRR cuts are necessary given the weaker-than-expected new loans and aggregate finance data in February, the newspaper said citing analysts.

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