People’s Bank of China releases $188 billion in second bank reserve ratio cut this year | latest news

People’s Bank of China releases $188 billion in second bank reserve ratio cut this year | latest news
People’s Bank of China releases $188 billion in second bank reserve ratio cut this year | latest news

China’s central bank said it will cut the amount of cash banks must hold in reserve, the second such move this year, as it will release 1.2 trillion yuan, or $188 billion, of long-term liquidity to support sluggish economic growth.

The People’s Bank of China said on its website that it will cut the reserve requirement ratio for banks by 50 basis points, effective Dec. 15.

The world’s second-largest economy has lost momentum in recent months, as it grapples with a slowdown in the manufacturing sector, debt problems in the real estate market, and the ongoing coronavirus outbreak.

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Peoples Bank China releases billion bank reserve ratio cut year latest news

 
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