0224 GMT - The shift in the Chinese central bank's monetary policy stance to "moderately loose" from "prudent" signals further easing ahead, UOB economists say. The PBOC had maintained its previous stance since 2011, and this change marks a return to the approach it adopted during the global financial crisis, Ho Woei Chen notes in a report. Upcoming easing measures could include cuts to interest rates and banks' reserve requirement ratios. UOB expects the focus to be on releasing long-term liquidity through RRR reductions. The PBOC has suggested another 25-50 bps cut to reserve requirements by year-end, and UOB anticipates an additional 50-100 bps reduction in 2025. (fabiana.negrinochoa@wsj.com)
(END) Dow Jones Newswires
December 09, 2024 21:24 ET (02:24 GMT)
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