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3rd Dec 2021 13:53China+, Daily Monitor, Asia Key Issues

  • Evergrande, and a nudge from upstairs, seem to have forced the PBoC's hand.
  • A 50 bps cut to the RRR frees up funds to deal with the clean-up operation, not supercharge growth.
  • More cuts will be needed, with growth likely to remain soft in Q1 of next year.

bank lending credit debt December developers dollar dollar debt easing funds government growth pboc policy q1 repo rmb rrr rrr cut

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Keywords for: Under Duress, and Trying to Sound Upbeat, the PBoC Acts

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