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RRR cut not change of policy stance, China still has big room to adjust reserve ratio – PBOC official

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China's latest cut in banks' reserve requirement ratio (RRR) does not represent changes in the monetary policy stance and China still has a relatively big room to make further adjustments to RRR to provide more long-term funding, which is more appropriate than expanding the central bank's balance sheet, said a senior central bank official.

Chinese banks' reserve requirement ratio is still relatively high compared to other major economies and can be adjusted in future . . .

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