Ren Zeping: directional reduction of non recurrent "water release"

Feb 5, 2018 1:32:54 PM

Ren Zeping, chief economist of

Founder Securities believes that the central bank's targeted reduction is aimed at implementing the 27 day's plan for structural reform supported by the State Council. It should not be overinterpreted to return to "drain water". Otherwise, it will misunderstand the State Council's policy. Monetary policy will continue to maintain a neutral, targeted RRR cuts will help ease liquidity tensions, help to deal with the first quarter of 2018 included in the interbank deposit interbank liabilities (the tendency of RRR at the beginning of 2018, the central bank does not rule out future force) recovery may put in long and short of money money at the same time.

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