In case you missed it, the PBOC announced some RRR cuts earlier today
Although the move is only aimed at small to medium-sized banks, it is part and parcel of China's continued efforts to stimulate the economy this year. The PBOC noted that this will release about ¥280 billion of funds for private and small business lending in order to lower funding costs for said companies.
That said, the rise in trade tensions as US seeks to step up their tariffs on China is outweighing the positive move thus far. The Shanghai Composite is down by more than 5% in trading today and is sitting at over two-month lows at the break.
