Wen Bin, Chief Economist of Minsheng Bank: There is still room and necessity for reserve cuts and interest rate cuts

On February 5th, Jin10 News reported that Wen Bin, Chief Economist of Minsheng Bank, said that there is still room and necessity for reserve requirement ratio cuts and interest rate cuts. Currently, the average reserve requirement ratio of Financial Institutions is about 6.6%, and it is expected that the reserve requirement ratio will be cut twice by about 100 basis points throughout the year. Given the current low level of prices, it is expected that the policy interest rate will be reduced by 30-40 basis points, further reducing the actual financing cost of the real economy.