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


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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