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A Roadmap to PBOC Easing Steps

Announcements of Beijing’s long-awaited interest rate reform measures are expected soon, but the more significant issue right now is the necessity of interest rate cuts to counter economic headwinds from rising trade tensions and the interbank market stress caused by the seizure of Baoshang Bank. Interest rate cuts to benchmark deposit rates and rates on PBOC liquidity facilities are expected to be announced alongside interest rate “reform” measures, but most interest rates will still be controlled by the PBOC.

Posted June 28, 2019
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