Central Bank: Timing for Reserve Requirement Ratio and Interest Rate Cuts

[Central Bank: Timing for Reserve Requirement Ratio and Interest Rate Cuts] The Monetary Policy Committee of the People's Bank of China convened its first quarterly meeting of 2025. The meeting discussed the main ideas for the next phase of monetary policy, recommending to strengthen the intensity of monetary policy regulation, enhance the forward-looking, targeted, and effective nature of monetary policy regulation, and to cut the reserve requirement ratio and interest rates at the appropriate time based on domestic and international economic financial conditions and the operation of financial markets. Maintain ample liquidity, guide financial institutions to increase the intensity of monetary credit issuance, and ensure that the scale of social financing and money supply growth match the economic growth and overall price level expectations. Strengthen the guidance of the central bank's policy interest rates, improve the transmission mechanism for market-based interest rate formation, leverage the self-regulating mechanism of market interest rate pricing, and enhance the implementation and supervision of interest rate policies. Promote the reduction of comprehensive social financing costs. ( Jin10 )