It previously gave signals for a RRR cut in July and December, days before the People’s Bank of China (PBoC) cut the ratio.
China signalled it will step up monetary stimulus for the economy, acknowledging that domestic and global risks are now bigger than previously expected. Officials will use multiple monetary policy tools at an “appropriate time” to support the real economy, according to a readout from a meeting of the State Council chaired by Premier Li Keqiang on April 6.
The “complexity and uncertainty of domestic and foreign environments have intensified, and some have exceeded expectations,” the meeting said. The State Council — China’s Cabinet — did not mention specific easing steps, like reducing the reserve requirement ratio (RRR).
