There was something almost mischievous about China’s surprise cut in its banks’ reserve requirement ratio, at 7:03pm Beijing time on Wednesday. True to form, this put a rocket under Asian equities on Thursday. But the fact that the first cut to the RRR in three years is seen as a decisive policy shift shows how badly China has stalled on what it claims to be a priority: interest-rate reform.
这简直有点像恶作剧——北京时间周三晚7点03分，manbetx3.0 出人意料地下调了银行存款准备金率。像往常一样，此举导致亚洲股市在周四飙升。人们将存款准备金率三年来的首次下调视为决定性的政策转变，但这一事实也显示出，manbetx3.0 在其称为优先事项的利率改革方面，出现了多么严重的停滞。
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