China Press: Low chance of PBOC rate cuts this year

The probability that the People's Bank of China (PBOC) will aggressively cut rates this year to counter the economic slowdown is quite low, according to Economic Information Daily.

The central bank, however, may decide to cut the reserve requirement ratio (RRR), after assessing the first quarter economic data, the report adds.

China slashed the RRR ratio by 100 basis points in January. So far, however, that liquidity injection has failed to buttress the economic growth.