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%

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This article was written by Eamonn Sheridan at www.forexlive.com.