-
China central bank to cut reserve requirements for some banks as trade tensions rise
China’s central bank said on Monday it will cut the reserve requirement ratios (RRRs) for small and medium-sized banks effective from May 15, in a targeted policy measure to help support companies struggling amid an economic slowdown. The amount of cash released by the latest cut would be one of the smallest from any of the RRR cuts since January 2018. The cut, while widely expected at some point, was announced right before China’s stock market opened, and just hours after U.S. President Donald Trump sharply escalated trade tensions between the world’s two largest economies. The People’s Bank of China (PBOC) ... (full story)