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Chinese markets tumble as PBOC cuts RRR again

Posted By Craig Erlam On In Forex News Round Up | No Comments

China’s stock markets tumbled on Monday, as investors were unnerved by the central bank’s decision to slash the amount of cash that the country’s lenders must hold as reserves, in a bid to help spur economic growth.

The People’s Bank of China (PBOC) announced measures on Sunday to cut the reserve requirement ratio (RRR) — or the amount of cash that most commercial banks need to set aside at the central bank.

The move, the central bank’s fourth in 2018, came amid concerns about the economic impact of Beijing’s ongoing trade war with Washington.

CNBC [1]

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Craig Erlam

Craig Erlam [14]

Senior Currency Analyst at OANDA [15]
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.