Goldman Sachs says a People's Bank of China RRR cut "in the next few days"

[Forex News]

I posted on the strong signal of a cut coming out China earlier:A signal of a PBOC cut. This time from China's leaders. The PBOC will pay attention.Goldman Sachs tipping the same:Premier Li held the State Council meeting today (April 13th) and required policymakers to roll out measures to support consumption. He also hinted at a potential RRR cut and required financial institutions to further lower funding costs for the real economy. We expect the PBOC to deliver a 50bp RRR cut and potentially also an interest rate cut in the next few days. ---RRR is Reserve Requirement Ratio, the amount of cash that banks must hold as reserves. A cut to the RRR frees funds for lending into the system.

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