Governor Yi defends PBoC’s easing measures

Cut in reserve requirements calibrated so as not to undermine deleveraging, says Yi Gang

Yi Gang: China’s financial system is “generally sound”, but there are “many uncertainties”

People’s Bank of China (PBoC) governor Yi Gang has defended its efforts to ease monetary conditions cautiously.

Speaking to reporters on January 9, Yi said a recent cut to the reserve requirement ratio (RRR) had been pitched carefully to avoid “excessive credit contraction”, but also to avoid “flooding” the economy with liquidity, which could impair efforts to deleverage.

The PBoC unveiled the cut on January 4, in the latest of a series of such moves. The 1 percentage point reduction brings

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Week account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: