News Snapshot:
07/13/2021 1:19 SHANGHAI (Reuters) - China's cut to bank reserve requirements could help authorities to deal with shifts in U.S. monetary policy and may relieve future downward pressure on the yuan, a former Chinese central bank official said in a commentary on Tuesday. The People's Bank of China (PBOC) said on Friday that it would cut the reserve requirement ratio (RRR) for all banks by 50 basis points (bps), effective from July 15, in a move that will release around 1 trillion yuan ($154.44 billion) in long-term liquidity. The cut "can reserve policy space for future shifts in the Fed's...
