Meanwhile, the People’s Bank of China, which hiked benchmark one-year lending rates five times in the 12 months ending this October, to 6.5%, now has plenty of scope for monetary easing should economic conditions deteriorate. The same is true with mandatory reserves in the banking sector, where the government has already pruned 50 basis points off the record 21.5% required-reserve ratio.
此外，中国人民银行在截止今年十月的12个月内将一年期贷款基准利率上调五倍至6.5%，现在如果经济状况恶化，央行拥有足够的空间放松货币政策。银行业强制储备金率也是如此。政府已将处于创纪录高点的21.5%的强制准备金率调降了50个基点——如果情况需要，中国还拥有更大的政策灵活度。