Update: China to Cut Reserve Requirement Ratio to Ensure Cash Supply
China’s central bank announced Friday that it will cut the amount of money that banks have to hold in reserve, releasing a net 800 billion yuan ($116.5 billion) into the financial system this month to ensure an ample supply of cash ahead of the Lunar New Year holidays.
The People’s Bank of China (PBOC) plans to cut the reserve requirement ratio (RRR) twice this month, once on Jan. 15 and once on Jan. 25, for a total reduction of 100 basis points.
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