UPDATE 1-China's central bank to ensure ample liquidity through targeted RRR cuts [Reuters]
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Source: Reuters
China's central bank to ensure ample liquidity through targeted RRR cuts BEIJING (Reuters) - China’s central bank said on Thursday that it will ensure ample liquidity through targeted reserve requirement ratio (RRR) cuts for banks at an appropriate time, and will keep monetary policy prudent and flexible to support the economy. China has announced a flurry of steps in recent weeks to shore up investor confidence and help keep smaller businesses afloat as the coronavirus epidemic severely disrupts economic activity. Many analysts believe more support measures are likely soon as disruptions look set to extend well into the second quarter. Recent surveys showed a third of the country’s smaller companies have only enough cash to last for a month, with another third believing they can hold out for two months. The central bank will as far as possible reduce the impact of the epidemic so that economic goals for this year can still be achieved, Liu Guoqiang, vice governor of People’s Bank of
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