Chinese central bank will cut banks' reserve requirement ratio (RRR) to free up about 800 billion yuan long-term funding in a move to boost the slowing economy.
The People’s Bank of China (PBOC) said on the first day of the new year that it will cut the amount of cash that all banks must hold as reserves by 50 basis points, taking effect on January 6, in order to offer sufficient funding to the real . . .
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