The highly read Chinese publication, Global Times, is out with an editorial piece after the People’s Bank of China (PBOC) announced a cut to reserve requirement ratio (RRR) on Monday.
Key Quotes:
“China’s room for loose monetary policy is expanding as major restricting factors are greatly reduced –
- the rising price of pork has started to fall as production recovers
- yuan’s downtrend has been reversed since China and the US made interim progress in their trade talks
- China has made progress in mitigating financial risks
The PBOC is expected in 2020 to inject more liquidity into the market through various policy tools within the normal space.”
- China: PBoC retains flexibility for its next move after RRR cut – ANZ
- USD/CNH struggles amid PBOC’s RRR cut, soft China Caxin PMI
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