From Shanghai Securities News (via MNI):

  • PBOC has concluded its first quarter monetary policy meeting
  • It did not change its wording on monetary policy in its statement

Analysts say:

  • The PBOC will still rely on open market operations to ensure liquidity
  • See no need for a reserve cut

Lu Zhengwei, an economist with the Industrial Bank, said the central bank should lower the 28-day repo rate to lower financing costs and loosen restrictions against lending for railway construction