央行宣佈今年第四次下調存款準備金率

The People's Bank of China (PBOC) decided to cut the reserve requirement ratio (RRR) for RMB deposits by 1 percentage point starting Oct 15.

中國人民銀行近日決定，自10月15日起將把人民幣存款準備金率下調1個百分點。

The fourth RRR cut of the year will cover the yuan deposits of large commercial banks, share-holding commercial banks, city commercial banks, non-county rural commercial banks and foreign banks.

這是年內第4次降準，覆蓋範圍將包括大型商業銀行、股份制商業銀行、城市商業銀行、非縣域農村商業銀行和外資銀行。

Wen Bin, chief researcher of China Minsheng Bank, said that the move would unleash 1.2 trillion yuan of capital into the market, but it would not change the central bank's stance of sticking to a prudent and neutral monetary policy, as its goal was to reduce financing costs of the real economy.

中國民生銀行首席研究員溫彬表示，此舉將把1.2萬億元人民幣的資金釋放入市場，但這不會改變央行堅持審慎和中性的貨幣政策的立場，其目標是降低實體經濟的融資成本。

A statement of the central bank said that some of the liquidity unleashed will be used to pay back the 450 billion yuan of the medium-term lending facility that will mature on Oct 15.

央行的一則聲明稱，此次降準所釋放的部分流動性將用於償還10月15日到期的4500億元中期借貸便利。

In addition, the liquidity of another 750 billion yuan will be injected into the market.

除去此部分，降準還將向市場注入流動性7500億元。

The RRR cut will fill in the liquidity gap of banks and put no downward pressure on the yuan as the country's monetary policy is not eased, according to the PBOC statement.

根據央行的聲明，本次降准將彌補銀行體系流動性缺口，由於我國的貨幣政策並沒有放鬆，不會對人民幣形成貶值壓力。

There are sufficient conditions for the RMB exchange rate to remain basically stable at a reasonable and balanced level, it said.

該聲明稱，人民幣匯率在合理均衡水平上保持基本穩定的條件是充分的。