China Cuts Banks’ Reserve Requirements Amid Faltering Recovery

(Bloomberg) — China’s central bank cut the amount of cash lenders must hold in reserve for the second time this year to bolster an economic recovery that’s struggling to rebound.

The People’s Bank of China lowered the reserve requirement ratio for most banks by 25 basis points, according to a statement Thursday. The weighted average RRR for banks will be 7.4% after the cut, the statement says.