PBOC is expected to cut the RRR soon – China Press

Dhwani Mehta FXStreet

According to a state-owned newspaper, China Securities Times, the People's Bank of China is likely to cut banks’ reserve requirement ratio (RRR) soon.

The Chinese central bank is expected to slash the RRR to boost liquidity and support growth in the second quarter of 2022.

Read: PBOC may gradually shift away from RRR cuts – Bloomberg

Market reaction

USD/CNY came under fresh selling pressure and gave up the 6.3700 level on the above headlines.

The pair is currently trading at 6.3680, losing 0.07% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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