Back
10 Jun 2014
PBoC cut its RRR by 50 bp – Danske Bank
FXStreet (Edinburgh) - In order to stimulate the domestic economy, the PBoC decided to cut the RRR by 50 bp, commented Anders Fischer, Analyst at Danske Bank.
Key Quotes
“The People's Bank of China (PBOC) said late Monday that it would cut the reserve requirement ratio for banks that have sizeable loans to the farming sector and small-and-medium sized firms to support the economy”.
“PBOC said the targeted 50bp reduction in the reserve requirement ratio (RRR), effective from 16 June, would also apply to financial firms that disburse consumer or auto loans”.
Key Quotes
“The People's Bank of China (PBOC) said late Monday that it would cut the reserve requirement ratio for banks that have sizeable loans to the farming sector and small-and-medium sized firms to support the economy”.
“PBOC said the targeted 50bp reduction in the reserve requirement ratio (RRR), effective from 16 June, would also apply to financial firms that disburse consumer or auto loans”.