PBOC announces RRR cut by 25 bps

The move will go into effect as of 5 December as the central bank says that it wants to keep liquidity ample and strengthen implementation of prudent monetary policy. This was already pre-empted by Eamonn in his earlier posts this week:

• PBOC RRR cut may be in the next few days
• Chinese state financial media says an RRR cut for all banks is likely