China cuts banks’ reserve ratios again, frees up $115 billion to spur economy
China cuts banks' reserve ratios again, frees up $115 billion to spur economy 3BEIJING (Reuters) – China’s central bank said on Wednesday it was cutting the amount of cash that all banks must hold as reserves, releasing around 800 billion yuan ($114.91 billion) in funds to shore up the slowing economy. The People’s Bank of China(PBOC) said on its website it will cut banks’ reserve requirement ratio (RRR) by 50 basis …
News story posted on 2020-01-01T09:46:00.0000000Z