China press says the PBOC may cut the RRR around October
The China Securities Journal with the vague report (via Bloomberg)
- That the People's Bank of China may cut the reserve ratio requirement
- around October
Huh, ok then.
This would, in effect, be an easing in policy to the extent it frees up funds a little.
Yesterday we got another pseudoeasing, with an injection of funds via a one year MLF:
ps. Stay tuned today fir the mid rate setting by the Bank, due just after 0115GMT. With Trump renewing his push for reducing the trade deficit with China (by sticking on more tariffs) I reckon the PBOC might reembark on its weakening of the yuan over coming days.