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On the evening of April 23, the Financial Times, a media affiliated to the central bank, quoted the central bank as saying that the rumors of a “targeted reserve cut from the 25th” circulated in the market that day were not true. Although the reserve requirement was not lowered, the central bank immediately launched a medium-term loan of 267.4 billion yuan to facilitate the operation of “special spicy powder” (TMLF).
Industry insiders generally believe that the possibility of a short-term reserve requirement cut is not high, mainly because the economy is supported in the second quarter after the first quarter of social finance, while there is an upward risk of CPI inflation in the second quarter, which also limits the space for the central bank to cut reserves. Zhao Xijun, deputy dean of the School of Finance and Finance at Renmin University of China, said that in the short term, the expected result of some home buyers in the market for the RRR cut is likely to be “ruthless.”
“the news is not true, and the central bank does not have a new targeted reserve reduction policy at present.” On the evening of April 23, the Financial Times, a media affiliated to the central bank, spoke on the rumors of a reserve cut that day. According to rumors, the central bank plans to cut the reserve requirements of some agricultural commercial banks, rural credit cooperatives and other rural financial institutions by 1 percentage point from the 25th.
Less than a month ago, on March 29, some people in the market spread the rumor that “the central bank has decided to lower the deposit reserve ratio of financial institutions by 0.5 percentage points” in the name of “Xinhua News Agency news”. It is rumored that the RRR cut will be implemented on April 1, and the central bank said on its official WeChat account that night that this was false news. And sent a letter to the public security organ on this matter to investigate and deal with the act of fabricating and publishing false information in accordance with the law.