PBOC gov pouring cold water on earlier rumours

  • has no knowledge of some banks having their deposit Reserve Requirement Ratio being raised

MNI quote China Business News story adding that when asked to comment on a media report that the PBOC has imposed higher deposit reserve ratios on banks whose lending growth so far this year has been too high Zhou replied:

"I haven't heard this"

Well he should know I guess.

Meanwhile it's just been announced that the PBOC has injected CNY 163bln with 20 banks MLF.

  • 3-month rate unchanged at 2.75%
  • 6-mth rate cut to 2.85%
  • 1-yr rate cut to 3%