PBOC Governor says 7-day reverse repo rate will be lowered by 0.2%

People’s Bank of China governor Pan Gongsheng

Expected
that depending on the market liquidity situation by the end of the
year, the reserve requirement ratio could be further reduced
to
achieve dynamic balance, macroeconomic policy should shift from
investment-focused to balancing both investment and
consumption
monetary policy framework will be further improved,
with a focus on achieving a reasonable rise in prices as a key
consideration
depending on market liquidity, reserve requirement
ratio could be further reduced by 0.25 to 0.5 percentage points
before the end of the year
the interest rate of 7-day reverse
repo operation in the open market will be lowered by 0.2 percentage
points
interest rate of medium-term lending facilities could be
reduced by 0.3 percentage points, depending on market liquidityloan market prime rate (LPR) could also be lowered by 0.2%

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This article was written by Eamonn Sheridan at www.forexlive.com.