China's central bank cuts RRR by 0.25 percentage points from Apr 25

The decision is part of the government’s efforts to support development of the real economy and reduce comprehensive financing costs. The cut will reduce the funding costs for financial institutions by about 6.5 billion yuan per year, the country’s central bank said.

PBOC has reaffirmed its stance on implementing a prudent monetary policy, avoiding ‘flood-like’ stimulus, and better utilising monetary policy tools to adjust both the monetary aggregate and the monetary structure, official Chinese media reported.

Fibre2Fashion News Desk (DS)