China should cut RRR, widen yuan band in 2013

From reuters.com

China should cut banks' reserve requirement ratios (RRR) in 2013 to support economic growth while widening the yuan's floating range to make it more flexible, the head of the cabinet's think-tank said in comments published on Monday. Chinese leaders have promised to maintain a prudent monetary policy and pro-active fiscal policy in 2013, leaving room for manoeuvre in the face of global economic risks while deepening reforms to support long-term growth. "We should keep appropriate base money growth through various measures, cut RRR at the proper time based on changes in monetary conditions," ... (full story)