PBOC cut RRR rate, plans to monetary policy more forward-looking, flexible and targeted

Reuters reports the latest announcement from the People’s Bank of China, stating that it has slashed the Reserve Requirement Ratio (RRR).

It’s worth noting that the RRR cut is the second round of a cut already announced. 

The PBOC says it will implement prudent monetary policy, strengthen counter-cyclical adjustments while making the monetary policy more forward-looking, flexible and targeted.

Additional Headlines:

 Will make monetary policy neither too tight nor too loose.

Will keep liquidity reasonably ample.

Will achieve reasonable growth in credit, total social financing.