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Rate cuts set to boost market confidence|降准降息提振市场信心

Policy package expected to put economy on‘more favorable growth trajectory’

一揽子政策将有力支持经济步入‘更有利的增长轨道’

China's top financial regulators, in a move that went beyond market expectations, unveiled a potent combination of monetary easing measures on Tuesday, aimed at anchoring market confidence and underpinning economic recovery amid domestic and global headwinds, analysts said.

24日，中国最高金融监管机构推出了一系列强有力的增量货币政策，力度超出市场预期。分析人士称，此举旨在稳定市场信心，在国内和全球经济逆风中支撑经济复苏。

The forceful one-two punch, including cutting the reserve requirement ratio, key policy interest rates and existing mortgage loan interest rates, will foster a more enabling climate for the world's second-largest economy to hit this year's growth target, they added.
分析人士补充，降低存款准备金率和政策利率、降低存量房贷利率等“双管齐下”的强有力措施，将为世界第二大经济体实现今年的增长目标创造更有利的环境。

"Recent macroeconomic data pointing to a tepid recovery in domestic consumption and weak inflationary pressures have created space for policymakers to ramp up efforts to bolster the economy," said Ming Ming, chief economist at CITIC Securities.
中信证券首席经济学家明明表示：“近期宏观经济数据显示，国内消费复苏乏力，通胀压力疲软，这为决策者加大力度刺激经济创造了空间。”

"The gradual release of the policy package will help shore up market sentiment, unleash pent-up consumer demand, and drive a pickup in prices, putting the economy on a more favorable growth trajectory," he added.
明明补充道：“逐步发布一揽子政策将有助于支撑市场情绪，释放被压抑的消费需求，推动物价回升，使经济走上更有利的增长轨道。”

Pan Gongsheng, governor of the People's Bank of China, the nation's central bank, said at a news conference on Tuesday that the reserve requirement ratio — the amount of cash that banks are required to have on hand — will be reduced by 0.5 percentage point in the near term, which will free up about 1 trillion yuan ($142.2 billion) for new lending.

中国人民银行行长潘功胜在24日的新闻发布会上表示，近期将下调存款准备金率0.5个百分点，向金融市场提供长期流动性约1万亿元（约1,422亿美元）。

This marks the second time that the central bank has lowered the RRR this year, after implementing a 0.5 percentage point reduction in February, indicating that Chinese policymakers are proactively tapping into the policy space provi