China's central bank to conduct targeted RRR cuts on Mar 16

To shore up the real economy and help reduce actual cost of financing, the People's Bank of China (PBOC), the country's central bank, announced on March 13 that it would implement targeted Required Reserve Ratio (RRR) cuts for inclusive finance, which will be effective on March 16, 2020, lowering the RRR by 0.Asian Metal Copyright The cuts will release RMB550 billion USD78.Asian Metal Copyright5 to 1 percentage points for banks that meet particular criteria.Asian Metal CopyrightTo shore up the real economy and help reduce actual cost of financing, the People's Bank of China PBOC, the country's central bank, announced on March 13 that it would implement targeted Required Reserve Ratio RRR cuts for inclusive finance, which will be effective on March 16, 2020, lowering the RRR by 0.Asian Metal Copyright A further cut of 1 percentage point will be prescribed for eligible joint stock commercial banks to encourage lending in inclusive finance.Asian Metal Copyright5 to 1 percentage points for banks that meet particular criteria.Asian Metal Copyright The cuts will release RMB550 billion (USD78.Asian Metal Copyright The cuts will release RMB550 billion USD78.Asian Metal Copyright67 billion) of long-term funds.  


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