From CNBC: 2024-09-23 20:29:40

Pan Gongsheng, governor of the People’s Bank of China, will speak to reporters Tuesday about possible rate cuts following the U.S. Federal Reserve’s decision. The PBOC has hinted at further reducing the reserve requirement ratio to boost growth amid deflationary pressure.

China’s economic slowdown prompts the need for policy easing and stimulus calls, according to analysts. The PBOC has indicated interest in lowering rates, with a recent cut in the 14-day reverse repo rate. The focus is on boosting domestic demand and reaching full-year growth targets amid global economic challenges.

Li Yunze and Wu Qing, high-level financial regulators, will join Pan for the press conference. Each regulator has specific roles within China’s financial regulatory system, which underwent restructuring recently. The meeting will discuss the country’s monetary and regulatory policies amid economic challenges.

Read more: China’s central bank chief set to hold press conference days after U.S. Fed rate cut