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PBOC Cuts Reserve Ratio in Tweak to Steady China Bank Liquidity

Wednesday, 18 April 2018 08:45 WIB china PBOC

The People Bank of China said it will cut the reserve-requirement ratio for some banks to reduce their funding costs and in turn help ease conditions for businesses and individuals. The 1 percentage point reduction takes effect April 25, the central bank said late Tuesday. About 900 billion yuan ($143 billion) of outstanding medium-term lending facility loans will be repaid on the day of the cut and another 400 billion yuan will be unleashed, it said in a statement. The PBOC said the reduction in funds required to be parked with it will apply to large commercial banks, joint-stock banks, city commercial banks, rural commercial banks, and foreign lenders. It is intended to “improve the...

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