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VIEW: Goldman Sachs No Longer Look For Policy Rate/RRR Cuts From PBoC


After Friday’s RRR cut Goldman Sachs note that “according to the statement following the announcement, policymakers appear concerned about uncertainties around inflation and spillover effects from monetary policy tightening by major developed markets. Given the smaller-than-expected RRR cut and the central bank’s concerns over inflation and Fed hiking, we no longer expect a policy rate cut or a further RRR cut in our baseline.”

MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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