China to cut reserve requirements for banks to boost economy
China has cut reserve requirements for banks in a bid to free up more funds to boost a slowing economy. – EPA pic, September 6, 2019.
CHINA’S central bank announced today it was cutting the reserve requirements for banks in a bid to boost lending and bolster the slowing economy. The People’s Bank of China will cut the reserve requirement ratio on September 16 by 50 basis points, it said in a statement, reducing the amount of cash banks must hold.
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