China Cuts Reserve Requirement Ratio For Second Time This Year

RTTNews | 748日前

(RTTNews) - China's central bank reduced the reserve requirement ratio for the second time this year in yet another move to support the struggling economy.

The weighted average RRR for banks will be about 7.4 percent, the People's Bank of China said in a statement on Thursday. The RRR represents the amount of cash that banks must hold as reserves.

This reduction will not be applicable to financial institutions that implemented a 5-percent RRR.

The move is set to release about CNY 500 billion into the system and reduces funding costs.

The central bank said it would make prudent monetary policy precise and effective and keep ample liquidity in the financial system to support the nascent economic recovery.

In the face of property market downturn and fading economic growth following the initial pick up from the reopening early this year, both government and central bank have rolled out a slew of measures.

In August, the PBoC had reduced the one-year loan prime rate by 10 basis points to 3.45 percent but retained the five-year LPR at 4.20 percent.

The rate on medium-term lending facility, which acts as a guide to loan prime rates, is likely to be maintained at 2.50 percent on September 15 after lowering the rate by 10 basis points in August, as any further reduction could weaken the yuan.

The PBoC had eased its borrowing rules and lowered mortgage rates for the first-time home buyers.

The National Bureau of Statistics is set to release industrial production, retail sales, fixed asset investment data on Friday.

タグ: CNY

China Manufacturing Sector Accelerates In September - RatingDog

The manufacturing sector in China continued to expand in September, and at a faster rate, the latest survey from RatingDog revealed on Tuesday with a manufacturing PMI score of 51.2.

RTTNews | 1日前

China Manufacturing PMI Improves To 49.8 In September - NBS

The manufacturing sector in China continued to contract in September, albeit at a slower pace, the latest survey from the National Bureau of Statistics said on Tuesday with a manufacturing PMI score of 49.8.

RTTNews | 1日前

China Leaves Key Interest Rates Unchanged

The People's Bank of China left its benchmark interest rates unchanged for the fourth straight month despite key indicators suggesting economic slowdown. The PBoC kept its one-year loan prime rate unchanged at 3.0 percent. Similarly, the five-year LPR, the benchmark for mortgage rates, was retained at 3.50 percent. The decision came in line with expectations.

RTTNews | 9日前

China Industrial Output, Retail Sales Miss Expectations

China's industrial production and retail sales grew at weaker than expected rates in August and fixed asset investment logged only a meagre growth, strengthening the call for both monetary and fiscal stimulus. Industrial output expanded 5.2 percent on a yearly basis in August, weaker than the 5.7 percent increase in July, the National Bureau of Statistics reported Monday.

RTTNews | 16日前

China Falls Back Into Deflation; PPI Continues To Decline

China's consumer prices declined more than expected in August on weaker demand and producer prices continued to fall, strengthening calls for more actions to bolster domestic consumption amid slowing exports growth. The consumer price index dropped 0.4 percent from a year ago after remaining flat in July, the National Bureau of Statistics reported Wednesday. Prices were expected to fall 0.2 perc

RTTNews | 21日前

China Exports Growth Softens More Than Forecast

China's exports growth moderated more than expected in August as frontloading gains from the U.S. started to fade but demand from Europe and Asean countries picked up strongly. Exports grew 4.4 percent year-on-year in August, which was slower than the 7.2 percent rise in July, the customs office reported Monday. This was also weaker than forecast of 5.0 percent.

RTTNews | 23日前

China Service Sector Growth Improves In August

China's service sector growth accelerated in August driven by the strong upturn in new orders, survey data from S&P Global showed on Wednesday. The headline RatingDog services Purchasing Managers' Index rose unexpectedly to 53.0 in August from 52.6 in July. Economists expect the indicator to fall to 52.4. The rate of increase was the fastest seen since May 2024.

RTTNews | 28日前

China Manufacturing Activity Returns To Growth

China's manufacturing sector returned to growth in August as rising orders pushed up purchasing activity and unfinished business but firms remained cautious about hiring, survey data from S&P Global showed on Monday. The RatingDog manufacturing Purchasing Managers' Index posted 50.5 in August, up from 49.5 in July. A reading above 50.0 indicates expansion in the sector.

RTTNews | 30日前

EURUSD	1.1736	GBPUSD	1.34815	AUDUSD	0.66128
USDJPY	147.067	USDCAD	1.39397	USDCHF	0.7969