This related to the news yesterday:
Nomura says the Bank may (yes, may) cut it again by the end of 2022.
The cut is an effort to prop up the value of the yuan, which has been slumping (like so many other currencies) against the USD.
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Nomura is forecasting the PBoC may cut its FX reserve ratio again by year end
Nomura is forecasting the PBoC may cut its FX reserve ratio again by year end
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