China's PBOC plans to maintain a "wait-and-see" approach and may further cut banks' reserve ratio for economic easing.
China's central bank, PBOC, plans to maintain its "wait-and-see" approach to monetary policy following the country's strong start to 2024. Deputy Governor Xuan Changneng revealed that there is ample room for further cuts to banks' reserve requirement ratio (RRR) to provide more economic easing. China announced a 50-basis point cut in RRR in January, the most significant cut in two years. Analysts believe at least one more reduction could be expected this year as policymakers continue to strengthen the economy.
March 21, 2024
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