This is, in effect, a slight easing in policy from the People's Bank of China.

Do note that this is part two of a cut already announced.

More:

  • says will implement prudent monetary policy, strengthen counter-cyclical adjustments
  • will make monetary policy more forward-looking, flexible, targeted
  • will make monetary policy neither too tight nor too loose
  • will keep liquidity reasonably ample
  • will achieve reasonable growth in credit, total social financing

Headlines via Reuters

more to come