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PBOC Seen Pursuing More Flexible Monetary Policy: Daily

CHINA PRESS
MNI (Singapore)

The People’s Bank of China is adopting a more flexible policy approach to address the current economic downturn, judging by the recent cut to reserve requirement ratios and the refinancing rates for agricultural loans, the Economic Daily reported citing Tang Jianwei, chief researcher of the Bank of Communications. The central bank is also keeping its structural supports for SMEs, technological innovation and green development, the newspaper said citing Tang. The recent 5-bps cut to LPR will steadily reduce financing costs by lowering rates on current loans and repricing of existing loans, the newspaper said citing analysts.

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