0140 GMT - The PBOC's 4Q monetary policy report released Thursday implies the Chinese central bank is presently prioritizing financial stability over immediate monetary policy easing, Goldman Sachs Research team says in a research report. The PBOC pledged to intensify monetary policy easing when appropriate and had strong language on FX management, the team notes. Given ongoing deflationary pressures in China, however, monetary policy easing is needed, says GS, which forecasts 50 bps of reserve requirement ratio cuts each in 1Q and 3Q and 20bp policy rate cuts in both 2Q and 4Q. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
February 13, 2025 20:40 ET (01:40 GMT)
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