All eyes are now on the People's Bank of China (PBOC), which has been gradually scaling back pandemic-driven stimulus to curb debt risks, while maintaining targeted support for small firms.
BEIJING: The Chinese government on Wednesday pledged to use timely cuts in the amount of cash that banks must hold as reserves to support the slowing economy, raising expectations about an imminent move to ease policy.
Such reductions in the reserve requirement ratio (RRR) will help underpin the economy, especially small firms, the cabinet said, taking investors by surprise as most had bet on a gradual tightening of policy.
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