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26 Feb 2015
China rallies on RRR easing – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team comment that the Shanghai Composite is rallying after PBoC’s decision to inject more liquidity in the system.
Key Quotes
“Shanghai Composite is up sharply and extending its gains in the afternoon trade after the PBoC approved an additional 0.5% of RRR rate cuts for more city banks, including Bank of Beijing, Bank of Shengjing, Bank of Chongqing, Huishang Bank, and Bank of Nanjing, estimated to release up to CNY100B of liquidity into the system.”
“PBoC also injected another CNY38B through its regular open market operations via 14-day reverse repos.”
“Overnight, Shanghai Daily citing China Urban Finance Society official noting the risk of deflation is “even greater than it is being perceived.
Key Quotes
“Shanghai Composite is up sharply and extending its gains in the afternoon trade after the PBoC approved an additional 0.5% of RRR rate cuts for more city banks, including Bank of Beijing, Bank of Shengjing, Bank of Chongqing, Huishang Bank, and Bank of Nanjing, estimated to release up to CNY100B of liquidity into the system.”
“PBoC also injected another CNY38B through its regular open market operations via 14-day reverse repos.”
“Overnight, Shanghai Daily citing China Urban Finance Society official noting the risk of deflation is “even greater than it is being perceived.