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PBOC Remains Likely To Cut RRR In Q3

CHINA PRESS
MNI (Singapore)

The People’s Bank of China remains likely to cut the reserve requirement ratio following the policy rate cuts on Monday, as insufficient demand continues to constrain the economic recovery. Banks will benefit from lower cost of funds and maintain support to the real economy if the RRR is cut, said Dong Ximiao, chief researcher at Merchants Union Consumer Finance Company. Dong noted policy space exists for the cut given the weighted average RRR is about 7.6%. As local governments are expected to accelerate selling special bonds in Q3, a RRR cut will help keep long-term liquidity ample, said Zhou Maohua, researcher at China Everbright Bank. (Source: Yicai)

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