R.R.R.

By lowering the reserve requirement ratio, or R.R.R., by half a percentage point, the central bank is partly seeking to offset its own actions in support of the currency.

The R.R.R. cut serves the same purpose, essentially representing a lending quota.

Although the central bank has been moving toward more market-driven interest rates, traditional measures like the R.R.R. cut still create across-the-board stimulus, Mr. Williams added.

Reducing this so-called reserve requirement ratio, or R.R.R., would help bring down rates in China’s money markets, which have been climbing in recent months, despite the central bank’s recent attempts to add more liquidity.

“Economic activities remain weak and the likelihood of an imminent R.R.R. cut has increased,” Li-Gang Liu, the chief economist for China at the Australia and New Zealand Banking Group, wrote on Monday in a research report.