China says it cuts RRR for some banks effective 2018

Breaking news from China 30 Sept

  • cuts Reserve Requirement Ratio for some banks as of 2018
  • cuts RRR for banks involved in lending to agriculture and small firms
  • PBOC will maintain prudent, neutral mon pol
  • will use multiple mon pol tools to keep liquidity basically stable
  • will guide reasonable growth of lending and social financing

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