SMM Steel Market Morning Brief: Stable Financial Aggregates Suggest Room for Additional RRR Cuts

[SMM Steel Market Morning Brief: Stable Growth in Financial Aggregates, Room for Further RRR Cuts]

The latest financial data has been released. The People's Bank of China (PBOC) recently published financial statistics showing that at the end of November, the outstanding social financing amounted to 405.60 trillion yuan (up 7.8% YoY); the balance of broad money (M2) reached 311.96 trillion yuan (up 7.1% YoY); and the balance of RMB loans stood at 254.68 trillion yuan in November (up 7.7% YoY). Overall, the current financial data remains stable, maintaining strong support for the real economy.