Last month, the Chinese central bank cut the level of reserves banks must hold by 50 basis points for some lenders. Now, the People’s Bank of China is probably mulling an extension of the reserve-requirement cut to further spur economic growth.
Last night, Chinese PMI rose from 50.3 to 50.4, representing a smaller-than-expected rebound in the country's manufacturing sector.
Ting Lu, a China economist at Bank of America, writes:
We maintain the “mini-stimulus” view
By Michael Fitzsimmons:
Today, I will take a look at the 2013 reserve replacement ratios ("RRR") for major shale oil producers ConocoPhillips (COP), Continental Resources (CLR), EOG Resources (EOG)
Whiting Petroleum (WLL). While all these...
December 31, 2012 11:35 AM
BEIJING (REUTERS) - China should cut banks' reserve requirement ratios (RRR) in 2013 to support economic growth while widening the yuan's floating range to make it more flexible, the head of the cabinet's think-tank...