PBOC's Yi Gang says "some room" exists for cuts in the reserve requirement ratio - Xinhua

Omkar Godbole FXStreet Contributor

There is room for the People's Bank of China (PBOC) to lower the reserve requirement ratio, but such room is much smaller than a few years ago, Yi Gang, governor of the People's Bank of China (PBOC) said on Sunday, according to Xinhua.

China's overall reserve ratio, or required reserve ratio plus excess reserve ratio, currently stands at roughly 12 percent.

Since the beginning of 2018, the central bank has lowered the reserve requirement ratio by a total of 3.5 percentage points in five cuts.

Key quotes

China to keep prudent monetary policy to "right degree".

China, US reach consensus on many key, important exchange rate issues.

China to open bond market wider to overseas investors.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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