China’s cuts: the good, the bad and the ugly
While analysts generally believe China’s latest cuts would release more liquidity into the renminbi market, it is still too early to get excited, CT warns.
China’s latest cuts on benchmark interest rates and reserve requirement ratio (RRR) – effective from August 26 and September 6, respectively – intend to lower financing costs for non-financial corporations (corporates) and to alleviate banks’ liquidity pressure, according to the central bank.
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