China's cut to bank reserve requirements could help authorities to deal with shifts in U.S. monetary policy and may relieve future downward pressure on the yuan, a former Chinese central bank official said in a commentary on Tuesday.
The People's Bank of China said on Friday that it would cut the reserve requirement ratio for all banks by 50 basis points , effective from July 15, in a move that will release around 1 trillion yuan in long-term liquidity.The cut"can reserve policy space for future shifts in the Fed's monetary policy," Sheng Songcheng, former head of the statistics department at the People's Bank of China , said in a commentary on the Sina Finance portal.
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