China Cuts Reserve Requirements
February 29th, 2016 5:55 am | by John Jansen |Via Bloomberg:
China Cuts Reserve Ratio in Latest Step to Support Growth
2016-02-29 10:05:08.123 GMT
By Tan Hwee Ann
(Bloomberg) — 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.
