PBOC Adopts Even Less Dovish Tone in 3Q Policy Report -- Market Talk

Dow Jones

2025/11/12

0227 GMT - The PBOC's 3Q monetary-policy report released Tuesday likely adopts an even less dovish tone than 2Q's, Goldman Sachs' Xinquan Chen says in a research report. The analyst cites the Chinese central bank's renewed emphasis on cross-cyclical adjustments in the 3Q report. In its 2Q report, the PBOC indicated limited appetite for broad-based monetary easing, the analyst notes. Overall, the developments highlighted in the latest report point to a continued reluctance to cut rates in the near term. GS pushes back its forecast for a 10bp policy rate cut and a 50bp RRR reduction to 1Q 2026 from 4Q 2025, and its projection for an additional 10bp rate cut to 3Q 2026 from 2Q 2026. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

November 11, 2025 21:28 ET (02:28 GMT)

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(ronnie.harui@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 11, 2025 21:28 ET (02:28 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1804176565.USD","symbol_name":"EASTSPRING INV GLOBAL GROWTH EQUITY \"A\" (USD) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2582220317","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2582220317","pubTimestamp":1762914480,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0227 GMT - The PBOC's 3Q monetary-policy report released Tuesday likely adopts an even less dovish tone than 2Q's, Goldman Sachs' Xinquan Chen says in a research report. 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