April 24, 2018 / 8:59 AM / a year ago

China to cut RRR further, M2 growth seen rising above 9 pct this year - MNI

BEIJING, April 24 (Reuters) - China will further cut the amount of cash that lenders must keep in reserves, Market News International reported on Tuesday, citing an unidentified source.

China’s M2 money supply growth also is seen rising above 9 percent this year, the source said, according to MNI.

“So we would see more RRR (reserve requirement ratio) cuts and M2 growth is expected to rebound above 9 percent this year,” MNI quoted the source as saying.

The People’s Bank of China (PBOC) last week cut reserve requirement ratios (RRR) for most banks, sparking concerns that Beijing may be increasingly worried about the risk of slower economic growth in coming months. (Reporting by Beijing Monitoring Desk; Editing by Kim Coghill)

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