{"id":130603,"date":"2012-01-29T22:21:02","date_gmt":"2012-01-30T05:21:02","guid":{"rendered":"http:\/\/chinadigitaltimes.net\/?p=130603"},"modified":"2012-01-29T22:21:02","modified_gmt":"2012-01-30T05:21:02","slug":"china-holds-off-reserve-ratio-cut","status":"publish","type":"post","link":"https:\/\/chinadigitaltimes.net\/2012\/01\/china-holds-off-reserve-ratio-cut\/","title":{"rendered":"China Holds Off Reserve Ratio Cut"},"content":{"rendered":"<p>Despite speculation about a drop in the bank reserve ratio due to high money demand for the Lunar New Year, <a href=\"http:\/\/www.bloomberg.com\/news\/2012-01-29\/china-s-decision-to-maintain-bank-reserve-ratios-taken-as-sign-of-caution.html\"><strong>China held off a reduction in the bank reserve requirement<\/strong><\/a>. Prior to this speculation, there was one cut in the reserve requirement, which was the first since 2008. Reserve ratios are used as a tool to curb inflation. This decision comes amid the property market slowdown and the weakest export growth since 2009. Bloomberg reports:<\/p>\n<blockquote><p>\u00a0\u201cThe central bank aims to ease policies prudently and pace loan growth at the beginning of the year so as to avoid a replay of the credit explosion in 2009 and 2010 and prevent inflation from rebounding,\u201d said Lu Zhengwei, a Shanghai-based economist at Industrial Bank. Lu now sees a reserve-ratio cut in February to add liquidity and spur growth after the reverse-repurchase contracts expire.<\/p>\n<p>Some analysts backed away from their reserve-ratio predictions when they saw the central bank inject 353 billion yuan ($55.7 billion) into the financial system in the week before the holiday, using the 14-day contracts. Barclays said the move had an effect similar to a cut in the bank requirements.<\/p>\n<p>Postponing a reserve ratio cut indicates monetary easing \u201cis meant to be moderate and controllable,\u201d Hong Kong-based JPMorgan economists led by Zhu Haibin wrote in a Jan. 20 report after forecasting a pre-festival move in a Jan. 17 report. A cut \u201cin the coming weeks\u201d remains likely because market liquidity will be tight when the 14-day reverse repurchase contracts mature, they said.<\/p>\n<p>The central bank is allowing the nation\u2019s five biggest lenders, including Industrial &amp; Commercial Bank of China, to increase first-quarter lending by a maximum of about 5 percent from a year earlier, two people at state lenders said previously.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Despite speculation about a drop in the bank reserve ratio due to high money demand for the Lunar New Year, China held off a reduction in the bank reserve requirement. Prior to this speculation, there was one cut in the reserve requirement, which was the first since 2008. Reserve ratios are used as a tool [&hellip;]<\/p>\n","protected":false},"author":984,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[2,14745,14746],"tags":[5581,3378,7800,1094],"class_list":["post-130603","post","type-post","status-publish","format-standard","hentry","category-economy","category-level-3-article","category-level-4-article","tag-bank-reserve-ratio","tag-central-bank","tag-economic-slowdown","tag-inflation","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.9 (Yoast SEO v23.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>China Holds Off Reserve Ratio Cut<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/chinadigitaltimes.net\/2012\/01\/china-holds-off-reserve-ratio-cut\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China Holds Off Reserve Ratio Cut\" \/>\n<meta property=\"og:description\" content=\"Despite speculation about a drop in the bank reserve ratio due to high money demand for the Lunar New Year, China held off a reduction in the bank reserve requirement. Prior to this speculation, there was one cut in the reserve requirement, which was the first since 2008. Reserve ratios are used as a tool [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"http:\/\/chinadigitaltimes.net\/2012\/01\/china-holds-off-reserve-ratio-cut\/\" \/>\n<meta property=\"og:site_name\" content=\"China Digital Times (CDT)\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ChinaDigitalTimes\" \/>\n<meta property=\"article:published_time\" content=\"2012-01-30T05:21:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/chinadigitaltimes.net\/wp-content\/uploads\/2021\/08\/CDT-logo.png\" \/>\n\t<meta property=\"og:image:width\" content=\"186\" \/>\n\t<meta property=\"og:image:height\" content=\"177\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Melissa M. 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