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REPEAT: MNI: PBOC Has Options, Tools If Econ Slows: Fan Gang

MNI (London)
Repeats Story Initially Transmitted at 06:56 GMT Oct 18/02:56 EST Oct 18
--Further RRR Cuts Are Likely: Former Policy Advisor
     BEIJING (MNI) - The People' Bank of China still has plenty of options and
ammunition to use if the economy slows, including further reductions in the
reserve requirement ratio, a former senior central bank official told MNI.
     "The PBOC has plenty of measures to cope with economic problems, including
the use of both quantitative and price tools," said Fan Gang, formerly a member
of the central bank's Monetary Policy Committee and now a professor at the
graduate school for the Chinese Academy of Social Science.
     "The RRR is still high at present and in long term, the RRR will continue
to be cut," Fan said.
     With the economy showing some signs of slowing as the trade war with the
U.S escalates, the PBOC cut the RRR by 100bps on October 7 to 14.5% for large
banks and 12.5% for smaller banks, effective Oct 15, releasing a net of CNY750
billion of liquidity into the economy. It followed on from a 100bps RRR cut in
July.
     China's leadership is looking for GDP growth of 6.5% in 2018, but many
economists fear headwinds from the deepening trade dispute with the U.S. could
slow the economy, with many fearing a slowdown to as low as 6.2%.
--MNI Beijing Bureau; +86 (10) 8532 5998; email: marissa.wang@marketnews.com
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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