PBOC has told banks to increase loans - report

China's central bank wants to step up the pace of lending

China's central bank asked commercial lenders to step up the pace of loans, according to three sources cited by Reuters.

"It's a temporary notice give at the month-end to grant us more lending quotas," said one of the sources quoted in the report.

China has many levers to pull if the trade war with the US worsens, including rate cuts. The RRR was lowered in May.