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The People's Bank of China will not.....>

CHINA PRESS
CHINA PRESS: The People's Bank of China will not change policy following the
Federal Reserve's decision to begin shrinking its balance sheet and will
continue to push forward deleveraging at a moderate pace, the Securities Daily,
an official securities journal run by the State Council, said in a front-page
commentary on Friday. The PBOC's balance sheet shrank by CNY1.1 trillion in the
first three months this year and fell again in August by CNY346.6 billion, with
both declines due mainly to a reduction in fiscal deposits at the central bank,
the newspaper said. In the deleveraging campaign, the PBOC is dealing with
liquidity problems via money market instruments and is also enhancing credit
distribution, so it is not the proper time to talk about a reserve requirement
ratio cut, the commentary argued. (Securities Daily)

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