Governor of the People’s Bank of China Pan Gongsheng:
- Monetary and fiscal policies must be coordinated.
- It should support a steady recovery in prices in the economy.
- By the end of the year, we may further reduce the RRR.
- After the reduction in the reserve requirement ratio, the weighted financial ratio for large banks will be reduced to 8%.
- MLF will be reduced by 0.3%.
- The interest rate on mortgages will be reduced by 0.2% to 0.25%.
previously:
- The People’s Bank of China and other senior economic officials held a press conference.
- People’s Bank of China to cut reserve requirement ratio by 50 basis points soon
- People’s Bank of China to soon cut 7-day reverse repo rate to 1.5% from 1.7%
Chinese stock markets rose on promises of upcoming cuts.
China’s securities regulator said it will issue guidelines for medium- and long-term funds to enter the A-share market and support mergers and acquisitions.
This article was written by Eamonn Sheridan on www.forexlive.com.
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