Quotes from Barclays Capital:
-Our original calculation of banking system liquidity suggests that PBoC could have afforded to wait until the end of December to cut the RRR given the seasonal pattern of government spending.
-That would have also made political sense given the annual Central Economic Work Conference is to be held in mid December.
-Our original calculation of banking system liquidity suggests that PBoC could have afforded to wait until the end of December to cut the RRR given the seasonal pattern of government spending.
-That would have also made political sense given the annual Central Economic Work Conference is to be held in mid December.