0122 GMT - China needs more "forceful" cuts to banks' reserve requirement ratios and interest rates in 2025, along with targeted rate cuts for household mortgage loans, says Chen Yulu, former vice governor of the People's Bank of China. In an article published on Communist Party-run newspaper Study Times, Chen says the PBOC is expected to provide additional relending support for the farming and elderly care sectors noting the central bank may increase the size of loans for stock buybacks next year as well. Chen further emphasized the need for the central bank to enhance liquidity management through the treasury bond market and to collaborate with the finance ministry to "inject strong momentum into economic recovery." (singaporeeditors@dowjones.com)
(END) Dow Jones Newswires
December 17, 2024 20:22 ET (01:22 GMT)
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