It only took hours before the New Year for the People’s Bank of China to deliver the first rate cut of 2020.
The central bank announced it cut banks’ reserve requirement ratio (RRR) by 50 basis points (bps), taking effect on January 6. The move is expected to inject over 800 billion yuan of liquidity into the banking system.
Read the latest article of our Chief Strategist Jimmy Zhu to learn why he thinks the move is seen to be more “growth-oriented”.