BEIJING: China still has room to lower the amount of cash banks must hold as reserves while it faces some constraints in cutting interest rates, a central bank official said on Thursday (Sep 5), as it seeks to bolster the country's flagging economic recovery.
People walk past the headquarters of the People's Bank of China , the central bank, in Beijing, China, on Sep 28, 2018. BEIJING: China still has room to lower the amount of cash banks must hold as reserves while it faces some constraints in cutting interest rates, a central bank official said on Thursday , as it seeks to bolster the country's flagging economic recovery.
The central bank would watch developing economic trends before making any adjustments, Zhou said, adding that the bank was closely monitoring policy changes in major economies. Goldman Sachs on Thursday expected the PBOC to deliver a 25-bps RRR cut in September and a 10-bps policy rate cut in the fourth quarter.
"The PBOC will continue to adhere to a supportive monetary policy," deputy central bank governor Lu Lei told the media briefing, adding the bank would promote a steady decline in corporate financing costs and credit costs for households.
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