Hot on the heels of last week’s State Council meeting, the PBoC on Sunday announced that it will cut RRR by 50bp for almost all banks (county-level Rural Commercial Banks and Rural Credit Unions are excluded), effective on 5 July, notes the research team at Nomura. Key Quotes “Unlike the RRR cut in April, which was mainly employed to replace maturing MLFs, the RMB700bn to be released from today’s RRR cut will be fresh liquidity for the real economy, so it sends a strong signal of policy easing on the part of the State Council and the People’s Bank of China (PBoC).” “Despite RRR cut, we believe the Chinese economy has yet to bottom out, and the situation could worsen before getting better. With strong internal and external headwinds in H2, we expect Beijing to introduce more easing measures in coming months. More specifically, we expect at least another RRR cut on a scale of 100bp before year-end.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next China’s Vice Premier Liu: China agrees with EU to resolutely oppose trade protectionism FX Street 3 years Hot on the heels of last week's State Council meeting, the PBoC on Sunday announced that it will cut RRR by 50bp for almost all banks (county-level Rural Commercial Banks and Rural Credit Unions are excluded), effective on 5 July, notes the research team at Nomura. Key Quotes "Unlike the RRR cut in April, which was mainly employed to replace maturing MLFs, the RMB700bn to be released from today's RRR cut will be fresh liquidity for the real economy, so it sends a strong signal of policy easing on the part of the State Council and the People's Bank of… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
