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China recently announced actions to reduce tensions liquidity to promote economic growth in the country, including the reduction of the state indicators of loans and deposits by 25 basis points to its lowest level ever at 4.6 and 1.75 percent respectively, what would reduce financing costs and enhance investment in assets Fixed.
He noted economic expert in the company «Asia Investment» Camille in a report to «cut the reserve ratio required for banks, any tool that determines the acquisition of bank reserves, by 50 basis points, as it is estimated that lowering the reserve required will pump more than 600 billion yuan ($ 94 billion) in banks ». He added: «dispelled fears recent moves regarding the Chinese slowdown and recession markets, as the Chinese government is determined to support the economy, which led to the stability of the end of last week, the stock markets and the lack of landing, as in the past few days».
He stressed «the implementation of key reforms at the same time, as China's central bank action to remove the ceiling interest rate on deposits maturing within a year and more price, but it kept the benchmark interest rate at 1.5 times the index of short-term deposits, and gradually work on the liberalization of interest rates on deposits during the year current, and a maximum increase of 1.2 times to 1.3 times in March and 1.5 times in May (last May) ».
Akkad and pointed to «increase the previous changes of contrast interest rates offered by banks and Chinese prices, but kept the China Stock Exchange last step a little bit about the full liberalization of the interest rate, achieving an achievement would not have been achieved only one year ago.» He pointed to «edit lending rate since 2013, but because the deposit rate was constant, the fluctuations in the cost of lending capital that determine the interest rate between banks was small, which in turn prevents banks from setting prices freely complete.» and added that «returns from deposits lost their ability to compete, what the Chinese had to strive to achieve better returns with Medallion APP elsewhere, and despite the restrictions on overseas investment, cash allocated in any of the financial assets are not subject to the regulations, property or the stock market, What led to many crashes, as it was the restriction of the key interest rates of the collapse of the Shanghai Stock Exchange finally causes ».
He continued: «If banks were already full control over its prices, it would increase the competitiveness of improving the allocation of capital and reduce the pressure on other assets that have been focused on a lengthy ownership, but the Chinese government still needs to ease restrictions on foreign investment, and the The last positive factor for the procedure that allows the central bank to exercise traditional monetary policy, as it can be targeted and controlled by the interest rate determined by the supply and demand factors prices. »
He said Akkad that «the positive side of the correction is to force the government to speed up some of the procedures, as China has worked at length on the liberalization of the economy and inject liquidity last year, which included the implementation of the five cuts policy interest rate since November (November) 2014, before the reforms, claim lifted under the Yuan and the opening of the stock market to foreign investors. »
He added: «There is no doubt that the recent actions correspond to the objectives of the Government to implement the reforms, while seeking to reduce the non-economic and financial stability». Chief economist at the central bank pointed to «liberalization of short-term interest rates soon, even if the road is still long, China has not hesitated to transform its economy to an economy based on liberal consumption, and despite the continued reliance on stimulus based on the traditional investment, still China too far from the starting line to reverse its course. » At this stage, the Chinese authorities need to work on their credibility, and more importantly, the transparency, because it is still on track to open its economy to the outside world. http://thedailyharrison.com/reviews/medallion-app-review-is-medallion-app-scam-or-not Medallion APP