1. The central bank has increased the size of its short-term capital pool to meet temporary excess storage demand.
2. Economic recovery is driving up the necessary excess reserve rate, which is causing a large funding gap in the system.
3. The mid-to-long-term funding gap in Q1 of 2023 is estimated to be 1.5 trillion yuan, and the central bank's short-term fund pool has expanded to 1.6 trillion yuan to address this gap.
The article provides an overview of the current economic situation and how it affects the necessary excess reserve rate, as well as how this rate impacts the system’s funding gap. The article does provide some evidence for its claims, such as figures depicting the relationship between economic activity and necessary excess reserve rate, but it does not provide any further evidence or analysis to support these claims. Additionally, there is no discussion of potential risks associated with increasing the necessary excess reserve rate or any counterarguments that could be made against this action. Furthermore, while the article does discuss potential solutions to address the funding gap, it does not explore any other possible solutions or consider their implications. Finally, while the article does present both sides of the issue fairly equally, it could have done more to explore alternative perspectives on this issue and present them in a balanced manner.