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Capital Economics notes the significance of the move by China, saying the PBOC has already been...

Capital Economics notes the significance of the move by China, saying the PBOC has already been stealthily easing, but today's action means Beijing wants the world to know about it. "Further RRR cuts will follow ... bank lending will pick up." As for official interest rates, they may or may not come down, but are not a significant policy tool in China.
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