There are some expectations about of a People's Bank of China (PBOC) Reserve Requirement Ratio (RRR) cut this month, or in August, to boost long term liquidity and support bond buying. Chinese state media, Securities Daily, cite the chief economist at CITIC Securities, saying that the PBOC may adopt measures such as lowering the reserve requirement ratio (RRR) to provide sufficient liquidity to the market In view of the current level of excess reserves and the potential pressure to issue government bonds, it is possible that the RRR cut will be implemented in July or August. It is not ruled out though that the PBOC will provide liquidity through open market operations or relending.Head of m
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