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 liquidity - loan market prime rate (LPR) could also be lowered by 0.2%
***
This article was written by Eamonn Sheridan at www.forexlive.com. Source