With the ECB effectively ending its hiking cycle, and the Fed said to pause in September (and unlikely to hike in November) thereby also ending its tightening, Chins is way ahead of both central banks and continues to ease ahead of the coming global recession. The PBOC announced today (September 14th) it would cut the reserve requirement ratio (RRR) by 25bp for a second time this year in a bid to bolster the country's sinking economy. The weighted average RRR for most banks will be 7.4% after the cut, the lowest in more than 15 years, a move which will release a fresh 500BN yuan in liquidity. The reduction, which ... (full story)