PBOC cut reserve ratios for some banks to release 550 billion yuan funding, analysts now expect rate cut

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Chinese central bank said on Friday it was cutting the amount of cash that some qualifying banks must hold as reserves for the second time this year, releasing 550 billion yuan in liquidity to support the economy, which has been jolted by a coronavirus outbreak.

The People’s Bank of China (PBOC) said that it would cut the reserve requirement ratio (RRR) by 50-100 basis points for banks that have met inclusive financing targets, which will release 400 billion yuan funding.

The RRR for qualified joint-stock banks would be reduced by an additional . . .

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