PBOC cuts banks’s Reserve Requirement Ratio by 25 bps PBOC CentralBanks AUDUSD InterestRate
The People’s Bank of China announced on Friday that it cut banks’ Reserve Requirement Ratio by 25 basis points , effective from March 27.Weighted average RRR for financial institutions at around 7.6% after the new cut.Will not resort to flood-like stimulus.Will make prudent monetary policy precise and forceful.Will keep total credit appropriate.AUD/USD is finding support just above the 0.6700 level on the PBOC rate cut announcement. The pair stalled its retreat from 0.6725, now adding 0.
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