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There is no need for the PBOC to cut....>

CHINA PRESS
MNI (London)
CHINA PRESS: There is no need for the PBOC to cut benchmark deposit rates as it
is not the most effective way to direct funds into the real economy, the
Securities Daily reported Wednesday, citing Xu Gao, chief economist at
Everbright Securities.
- According to Xu, its not the cost of finance that is making it hard for
businesses to find funding, but policy constraints.
- To boost further growth in credit and social financing, an RRR cut is needed,
with open market operation (OMO) rates lowered appropriately, the report added.
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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