PBoC’s Yi defends central bank’s easing measures
Cut in reserve requirements calibrated so as not to undermine deleveraging, governor says
People’s Bank of China governor Yi Gang has defended the central bank’s efforts to cautiously ease monetary conditions.
Speaking to reporters on January 9, Yi said a recent cut to the reserve requirement ratio (RRR) had been pitched carefully to avoid “excessive credit contraction” on the one hand, but also to avoid “flooding” the economy with liquidity, which could impair efforts to deleverage.
The PBoC unveiled the RRR cut on January 4, the latest in a series of such moves. The 1 percentage
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