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PBOC cut banks’ reserve requirement ratio to release 900 billion yuan funding, LPR cut expected

THE WIRE WITH UP-TO-THE-MINUTE UPDATES

China’s People’s Bank of China (PBOC) on Friday cut the amount of funds that commercial banks have to hold in reserve and analysts believe the central bank will move to lower Loan Prime Rate - the new reference rate for banks' lending, in a move to spur the economic growth amid more signs of weakness and a prolonged trade war with the United States.

The PBOC said its reserve requirement ratio would be cut by 50 basis points, effective . . .

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