IN BRIEF (Page 13)

No ceiling for RRR, says PBOC

There is no absolute ceiling for the required reserve ratios (RRR) for Chinese banks, the People's Bank of China (PBOC), the nation's central bank, said on Tuesday. That's because the RRR is a key tool for managing the volume of cash in the economy and it must be flexibly applied, according to the central bank.

In its quarterly monetary policy report, the PBOC also reiterated that its main objective at present is to stabilize prices.