China bond yields fell to a record low after the People’s Bank of China announced that it will cut the reserve requirement ratio on Tuesday.
China bond yields fell to a record low after the People's Bank of China on Tuesday announced that it will cut the reserve requirement ratio.
China bond yields fell to a record low after the People's Bank of China on Tuesday announced that it would cut the reserve requirement ratio for banks.Yield on China's 10-year government bonds fell 3.75 basis points to 2.1%, data from LSEG showed, marking a record low. During a press conference, PBOC Governor Pan Gongsheng announced that China will be reducing the reserve requirement ratio , which is the amount of cash banks must hold.
China will cut the amount of cash banks need to have on hand, PBOC's Gov. Pan Gongsheng said during a press conference on Tuesday.This relatively uncommon high-level press conference was arranged following last week's interest rate cut by the U.S. Federal Reserve, which initiated an easing cycle that may allow China's central bank to lower its rates further to stimulate growth amid deflationary pressures.
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