China Cuts Banks' Reserve Requirement Ratio by 50 Basis Points
From bloomberg.com
China’s central bank cut the amount of cash the nation’s lenders must hold as reserves, stepping up efforts to cushion an economic slowdown amid plunging stock prices and a weakening currency. The required reserve ratio for the banks will drop by 0.5 percentage points effective March 1, the People’s Bank of China said on its website Monday.
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