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Expectation for reserve requirement cut by PBOC grows despite upbeat data

Despite the surprising pickup in China's manufacturing activity pointing to a possible stabilisation of the economy, market expectation for a cut in banks' reserve requirement grows as many believe further support is likely to be needed for a sustainable recovery. Some expect the authority to make the move as soon as mid-April.

Sheng Songcheng, a former PBOC official and advisor to the central bank, said he sees room to lower the reserve ratio further, and that such a move is likely, reported the state-run Economic Information Daily on Tuesday, adding that such a move would require a . . .

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