(Bloomberg) -- China’s central bank signaled a potential boost of liquidity for banks but expressed caution on cutting interest rates after the world’s...
-- China’s central bank signaled a potential boost of liquidity for banks but expressed caution on cutting interest rates after the world’s second-largest economy reported an upbeat start to 2024.Justice Department to Sue Apple for Antitrust Violations as Soon as ThursdayThere is still room to lower the reserve requirement ratio for banks, which is an important tool to adjust liquidity, People’s Bank of China Deputy Governor Xuan Changneng said during a Thursday briefing.
“A rate cut may be delayed,” said Zhang Zhiwei, chief economist for Pinpoint Asset Management Ltd. He cited concerns including more pressure on the already weak yuan and China’s flattening yield curve, which suggests traders are growing pessimistic about the country’s longer-term growth outlook.Raymond Yeung, chief economist for Greater China at Australia & New Zealand Banking Group Ltd., expects banks to lower their deposit rates in April.
Xuan signaled the PBOC is satisfied with the growth of credit and money supply for now and will maintain ample liquidity, even as loans expanded at the slowest rate on record in February. He explained that credit growth of at least 8% is in line with the nominal economic growth target of about 8%.TOKYO — Asian benchmarks were mostly higher on Thursday after U.S. stocks rallied to records following the Federal Reserve’s i ndication that it expects to deliver interest rate cuts later this year.
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