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Ratio cut gives China room to deal with Fed policy shifts: ex-PBOC official Toggle share menu
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Ratio cut gives China room to deal with Fed policy shifts: ex-PBOC official China s cut to bank reserve requirements could help authorities to deal with shifts in U.S. monetary policy and may relieve future downward pressure on the yuan, a former Chinese central bank official said in a commentary on Tuesday.
FILE PHOTO: Headquarters of the People s Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee
13 Jul 2021 09:55AM Share this content
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SHANGHAI: China s cut to bank reserve requirements could help authorities to deal with shifts in U.S. monetary policy and may relieve future downward pressure on the yuan, a former Chinese central bank official said in a commentary on Tuesday.
By Syndicated Content
Jul 12, 2021 | 8:19 PM
SHANGHAI (Reuters) â Chinaâs cut to bank reserve requirements could help authorities to deal with shifts in U.S. monetary policy and may relieve future downward pressure on the yuan, a former Chinese central bank official said in a commentary on Tuesday.
The Peopleâs Bank of China (PBOC) said on Friday that it would cut the reserve requirement ratio (RRR) for all banks by 50 basis points (bps), effective from July 15, in a move that will release around 1 trillion yuan ($154.44 billion) in long-term liquidity.
The cut âcan reserve policy space for future shifts in the Fedâs monetary policy,â Sheng Songcheng, former head of the statistics department at the Peopleâs Bank of China (PBOC), said in a commentary on the Sina Finance portal.
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by Tyler Durden
Wednesday, Jul 07, 2021 - 07:05 PM
With the Fed debating whether to keep talking about tapering or finally do something about it - even if that something means injecting another trillion of liquidity into the economy by the end of 2022 while nipping and tucking $10 billion per month here and there - China is starting to move in the other direction.
With China s economy rapidly cooling, as the latest sharp drop the Caixin Services PMI demonstrated, after badly missing consensus expectations and poised on the edge of contraction.
. a move which was predicted here months ago when we discussed the collapse in China s all important credit impulse.
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