China PBOC Vice Gov Chen: Will conduct RRR discounts soon, considering 'tweak' to RRR to release liquidity; reviewing whether to cut benchmark deposit rate
- Confirms to make monetary policy 'more flexible'
- PBOC pledges 'dynamic adjustment' of RRR policies, China will adopt dynamic adjustment of targeted RRR cut policies in the near future for better use of inclusive financing to shore up the economy (Xinhua)
- Currently China's monetary policy space and policy tools remain sufficient.
- Three state policy banks to help manufacturers, exporters and pig farmers.
- Monetary and fiscal policies have vital role during coronavirus outbreak
- Reiterates will keep liquidity reasonable and sufficient
- Reiterates will guide borrowing costs lower.