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PBOC’s more optimistic tone on economy lowers chance for further loosening

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Chinese central bank expressed a more optimistic view on the domestic economy and external environment in the statement following the monetary policy meeting for the first quarter. Analysts say the change in the PBOC's tone is lowering the chance for further loosening including a cut in banks' reserve requirement in the near term.

The central bank reiterated its pledge to continue with a prudent monetary policy that is neither too loose or too tight, and ensure reasonably ample liquidity . . .

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