Researchers at UOB Group assessed the recent move by the PBoC. Key Quotes “PBoC announced a 100bps reduction in reserve requirement ratio (RRR) effective 15 Oct, partially to make repayment of maturing medium-term lending facility (MLF) while releasing a net RMB750 billion into the banking system”. “It seems that PBoC has shifted its priorities, towards a more assertive posture in offsetting the effect of external pressures and domestic slowdown. However it noted that its prudent and neutral monetary policy stance remains, and there is no easing of policy. Given both the external and domestic conditions, there is likely to be another RRR cut by end of 2018 or early 2019″. “With a strong US dollar as our base scenario, coupled with a dovish PBoC stance, we reiterate our USD/CNY forecasts, at 6.95 by end-2018, 7.00 by end-1Q19 and 7.10 by end-2Q19 and 3Q19″. 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 Ethereum price analysis: ETH/USD bulls gather energies for another assault on $230 handle FX Street 4 years Researchers at UOB Group assessed the recent move by the PBoC. Key Quotes "PBoC announced a 100bps reduction in reserve requirement ratio (RRR) effective 15 Oct, partially to make repayment of maturing medium-term lending facility (MLF) while releasing a net RMB750 billion into the banking system". "It seems that PBoC has shifted its priorities, towards a more assertive posture in offsetting the effect of external pressures and domestic slowdown. However it noted that its prudent and neutral monetary policy stance remains, and there is no easing of policy. Given both the external and domestic conditions, there is likely to be… Regulated 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.
