Logo 12 Jul 2021

Surprise! RRR cuts for everyone!

On Friday, the People’s Bank of China (PBoC) surprised everyone by cutting the reserve requirement ratio (RRR) by 0.5 percentage points for all banks, freeing up about RMB 1 trillion in funds.
The cut itself wasn’t a surprise:

The State Council flagged it the previous day.

The surprise was that th...

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