Chinese bond yields plummeted to a new record low on Tuesday following the People's Bank of China's (PBOC) announcement of a cut in the reserve requirement ratio for banks. This move aims to stimulate economic growth amid deflationary pressures.
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 .
A man walks past the People's Bank of China building on July 20, 2023 in Beijing, China. , 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.
China Bond Yields PBOC Reserve Requirement Ratio Economic Growth Deflation
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