4/15, 12:54 PM (Source: TeleTrader)
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PBoC vows to keep prices stable, support small firms

The People's Bank of China pledged on Friday it would continue closely watching changes in inflation in order to keep the prices stable. The Chinese central bank also confirmed cutting the reserve requirement ratio (RRR) for all banks by 25 basis points (bps) from April 25, and an additional 25 bps for some smaller banks.

In an official statement, the bank said it would release around 530 billion yuan ($83.25 billion) in long-term liquidity to boost economic recovery, however noting it wouldn't resort to a "flood-like" stimulus. It will support small companies and industries affected by the coronavirus pandemic, as well as follow monetary policy decisions by major economies worldwide, the central bank concluded.

Baha Breaking News (BBN) / ND