Bank reserves 'may be cut again next year'

Move will boost lending but does not mean policy shift: ex-official

BEIJING - The reserve requirement for banks may be further reduced next year to allow more lending but that does not signify a policy change, a former central bank official said on Sunday.

Wu Xiaoling, a former deputy governor of the People's Bank of China, said at a Beijing forum that cutting the requirement would be a major tool in fine-tuning a prudent monetary policy.