Wednesday , 6 November 2024
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PBOC Governor says 7-day reverse repo rate will be lowered by 0.2%

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.

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