ICYMI - China signalling rate cut soon (to the RRR)
While we await the PBOC CNY mid rate, some info from Chinese media.
Caixin (and others) report China's cabinet signalled that a cut to the RRR is coming
(The RRR is the reserve requirement ratio, the amount of funds banks have to hold in reserve)
A cut to the RRR is in effect an easing, releasing funds into the economy (although funds also make their way into more speculative activities). China's State Council, President Xi in attendance of course, called for a "timely" use of tools including broad and targeted reserve-ratio cuts,