China tweaks reserve ratio tool, fewer cuts seen likely
Beijing
AS investors continue to grapple with China's economic slowdown, regulators may be taking away an old standby for monetary easing.
The required reserve ratio for commercial banks, a tool long used to add or remove liquidity, will increasingly be used instead as a lever for enforcing financial stability. That's according to a People's Bank of China announcement on Dec 29 describing a new Macro Prudential Assessment system, or MPA.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
German manufacturing downturn eases in April, PMI survey shows
India RBI's FX intervention eases as conditions turn favourable for rupee
Swiss inflation accelerates faster than expected in April
OECD upgrades global growth outlook as US outperforms
US official urges China, Russia to declare only humans, not AI, control nuclear weapons
Banking giants race to Riyadh as MBS steps up pressure campaign