There Is Room for Easing Bank Reserve Ratio, PBOC Governor Says

What’s new: There is still room for China to cut the reserve requirement ratio (RRR) for banks — the amount of cash banks are required to hold in reserves, said Pan Gongsheng, governor of the People’s Bank of China, signaling potential for further policy easing.

“China’s monetary policy toolbox remains sufficient, and there is still ample room for monetary policy,” said Pan at a Wednesday press conference on the sidelines of this year’s annual legislative meetings.