The People’s Bank of China announced a 25-bps cut to the reserve requirement ratio, which will be effective March 27. China Securities Journal speculated that the Chinese economy needs more fiscal and monetary policy support.
Outgoing Bank of Japan Governor Kuroda said that he believes the central bank still has room to lower rates below -0.10%.
Japan’s trade minister said that South Korea has not been granted “white nation status” and that export controls remain in place.