日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

US EUROPE AFRICA ASIA 中文
Business / highlights

PBOC restarts bill repurchase, RRR cut likely

(Xinhua) Updated: 2012-05-07 14:56

Related publication:

PBOC restarts bill repurchase, RRR cut likely

China's central bank has restarted bill repurchase to inject cash to banks, reversing normal practice for this to happen ahead of holidays, a shift which has underscored tight liquidity and led to anticipation of further cuts in the reserve requirement ratio (RRR).

The People's Bank of China repurchased bills worth 65 billion yuan ($10.32 billion) through open market operation Thursday. It was the first time since 2003 that such a move has been made outside of the Spring Festival holiday and supports the central bank's previous pledge that it will scale up bill repurchase to ease liquidity.

With 52 billion yuan of purchased bills due this week, the central bank has injected 117 billion yuan, the largest weekly volume in the past 15 weeks.

Restarting bill repurchase makes sense given the current liquidity strains, bank dealers said.

China's yuan funds outstanding for foreign exchange increased 124.7 billion yuan in March, but the 289 billion yuan totalled in the first quarter of 2012 was not significant.

This means the central bank injected 289 billion yuan worth of foreign exchange to commercial banks in the first quarter to offset the same amount of foreign exchange inflow, comprised of trade surplus and overseas speculative money, as renminbi is inconvertible under the capital account.

Meanwhile, as individual bank savers lean to shift their money away from banks to other investments with higher returns, banks lack money sources.

To ease liquidity, the central bank lowered the RRR, the money that commercial banks should set aside in reserves, by 50 basis point and repurchased bills twice at the beginning of 2012. Those moves injected at least 300 billion yuan to the market. In addition, the central bank suspended the issuance of central bank bills.

Forecasting the monetary policy trend, E Yongjian, a researcher with the Bank of Communications, said open market operation is expected to be a major means under which the central bank will keep reasonable liquidity level.

Peng Wensheng, chief economist of the China International Capital Co, said with growing market demand and the yuan funds outstanding for foreign exchange slowing, monetary policy is poised to become looser, which makes the RRR cut essential. Gao Yongbiao, an analyst with Sealand Securities, predicated the RRR cut would come as early as the middle or end of this month, if April's Consumer Price Index, a main gauge of inflation, stayed high.

For more subscription details of China Banking , please visit our E-Shop .

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 亚洲综人网 | 国产精品日 | 欧美成人三区 | 亚洲无限观看 | 亚洲欧美一区二区三区四区 | 国产在视频线精品视频 | 成人久久久精品乱码一区二区三区 | 国产精品资源 | 成年人晚上看的视频 | 成年人精品| 黑人黄色大片 | 性高潮网站 | 国产精品爽 | 国产一区二区视频在线观看免费 | 国产资源一区 | 四虎影院www.| 中文在线中文资源 | 亚洲成人免费观看 | 在线播放国产一区 | 午夜在线观看免费视频 | 欧美成人激情在线 | 国产福利91精品一区二区三区 | 操碰视频在线 | 向日葵污视频 | 亚洲欧美一区二区三区四区 | 国产精品视屏 | 国产福利免费视频 | 日本精品视频在线播放 | 欧美日韩在线视频播放 | 欧美日韩视频免费在线观看 | 黄色av网址在线观看 | 国产成人一区二区在线观看 | www日本在线 | 激情九月婷婷 | 欧美亚一区二区三区 | 免费久久视频 | 国产在线精品视频 | 91影视 | 天堂男人网 | 国产h在线观看 | 欧美天堂在线视频 |