PBOC researcher says reserve, rates need adjusting

A People's Bank of China researcher has said in a report that the PBOC needs to raise the reserve requirement again as well as adjust interest rates to rein in liquidity.

"Depending on the economic and market liquidity situation, (the PBOC) needs to use the deposit reserve requirement tool to soak up liquidity... (it should also) use interest rate leverage at a proper time and proper magnitude to control monetary and credit growth," Jiao Jinpu, deputy head of the central bank research bureau,