PBoC says “Happy New Year” with RRR cut
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On Monday morning, the central bank (PBoC) cut banks’ required reserve ratios (RRRs).
Some context: The PBoC announced the cut on January 1. It marks the first RRR cut of 2020, after three cuts in 2019.
The details:
The PBoC estimates the cut will inject RMB 800 billion of long-term cash into ...