Chinese Premier signals reserve ratio cut, encourages large banks to lower provision coverage to support economy

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Chinese Premier Li Keqiang on Wednesday signals bank reserve ratio cut, encourage large banks to lower provision coverage ratio, vowed to roll out measures to boost consumption, as part of efforts to support the economy amid rising downward pressure.

China should use monetary policy tools such as lowering banks' reserve requirement ratio (RRR) at an appropriate time to increase financial support to the real economy, especially the sectors, small companies and individual businesses hit hard . . .

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