China Cuts Banks' Reserve Ratio as Economic Growth Sputters
China's central bank said on Friday it would cut the amount of cash that banks must hold as reserves by 50 basis points, the second reduction this year aimed at bolstering faltering economic growth. The move takes effect Friday and was flagged on Tuesday by PBOC Governor Pan Gongsheng at a press conference,
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China will cut the amount of cash banks need to have on hand, known as the reserve requirement ratio or RRR, by 50 basis ...
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