Financials, Automotive Jul 09, 2021 05:26 PM (GMT+8) · EqualOcean
The relevant person in charge of the central bank responded to the reduction of deposit reserve ratio of financial institutions: the orientation of prudent monetary policy has not changed. The RRR reduction is a routine operation after the return of monetary policy to normal. Part of the released funds will be used by financial institutions to repay the due medium-term loan facility (MLF), and part of the funds will be used by financial institutions to make up for the liquidity gap caused by the peak tax period in mid and late July, and increase the proportion of long-term funds of financial institutions. The total liquidity of the banking system will remain basically stable. At present, China's economy is stable and developing well. The people's Bank of China adheres to the stability and effectiveness of monetary policy, adheres to the normal monetary policy, and does not engage in flooding.

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