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China pledged to cut banks’ reserve requirement in timely manner to boost economic growth

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China's State Council pledged both broad and targeted cuts in the reserve requirement ratio (RRR) for banks “in a timely manner” to boost the slowing economy. Many analysts expect the central bank to make the move this month.

China “will use both broad and targeted RRR cuts in a timely manner" to provide more funds to support the real economy,” said the State Council in a policy meeting chaired by the Premier Li Keqiang on Wednesday.

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