According to a report by MNI, citing an unidentified PBOC official on the matter

  • China may see more RRR cuts
  • M2 growth may rebound to above 9% in 2018

The latest set of cuts was announced last week here, and was more than economists were expecting this year. But if more cuts are slated to come, it is likely that officials are looking to step up deleveraging efforts and they're doing what they can to ease the burden on banks.