Bloomberg (gate) survey of economists finds the consensus expectation is for two more RRR cuts in 2024:

  • totalling 50 basis points
  • to happen in H2 of 2024

More:

  • five-year loan prime rate (LPR) is expected to be trimmed from Q2 by a total of 20 basis points to 3.75% through the end of the year
  • one-year LPR is seen declining by 10 basis points in each of Q2 and Q4
PBOC cut