BEIJING—China said on Friday it would cut the amount of cash that banks must hold as reserves for the first time this year, releasing about 530 billion yuan ($83.25 billion) in long-term liquidity to cushion a sharp slowdown in economic growth. The People’s Bank of China (PBOC) said on its website it would cut the…
China Cuts Banks’ Reserve Requirements in Bid to Stimulate Slowing Economy
December 6, 2021
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China’s central bank has announced it will cut the amount of cash that banks must hold in reserve, unlocking $188 billion in long-term liquidity to shore up slowing economic growth. The People’s Bank of China (PBOC) said on its website on Dec. 6 that it would lower the reserve requirement ratio (RRR) for banks by 0.5…
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