央行宣布今年第四次下调存款准备金率

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.

中国人民银行近日决定，自10月15日起将把人民币存款准备金率下调1个百分点。

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.

这是年内第4次降准，覆盖范围将包括大型商业银行、股份制商业银行、城市商业银行、非县域农村商业银行和外资银行。

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.

中国民生银行首席研究员温彬表示，此举将把1.2万亿元人民币的资金释放入市场，但这不会改变央行坚持审慎和中性的货币政策的立场，其目标是降低实体经济的融资成本。

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

央行的一则声明称，此次降准所释放的部分流动性将用于偿还10月15日到期的4500亿元中期借贷便利。

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

除去此部分，降准还将向市场注入流动性7500亿元。

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.

根据央行的声明，本次降准将弥补银行体系流动性缺口，由于我国的货币政策并没有放松，不会对人民币形成贬值压力。

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

该声明称，人民币汇率在合理均衡水平上保持基本稳定的条件是充分的。