PBOC Committee Hints at Rate Cut

A rundown of the news making headlines in and around China:

PBOC cuts: The monetary policy committee of China’s central bank suggested the authority cut interest rates and banks’ reserve requirement ratio at the “right time.” The cuts, suggested at the committee’s quarterly meeting on March 18, should be made based on domestic and overseas economic and financial conditions, it said. The cuts were part of a broader message at the meeting, which suggested intensifying monetary policy regulation, and improving monetary policy to be more forward-looking, targeted and effective. The committee also changed its fourth-quarter view of other major economies having entered “a cycle of interest rate cuts” to “uncertainty in monetary policy adjustments has increased,” meaning its expectations for rate cuts overseas have declined.