The big event over the weekend was PBOC’s delivery of the first rate cut in 2015, after the RRR reduction on February 5. As we mentioned in previous reports, there is imminence for the government to implement monetary easing more aggressive to bolster growth so as to achieve the +7% GDP growth target. Looking at the details of the rate cut, PBOC both the benchmark deposit and lending rates by -25 bps, effective 1 March.
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PBOC Cut Interest Rates by -25 bps
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