11/25/2022, 11:00 AM (Source: TeleTrader)
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China cuts banks' reserve requirement ratio by 25 bp

The People's Bank of China (PBOC) announced on Friday it will cut the reserve requirement ratio (RRR) for banks, or the amount of cash banks are required to hold as reserves, by 25 basis points.

The measure, which will take effect from December 5, is set to free up around 500 billion yuan ($69.8 billion) in long-term liquidity.

Baha Breaking News (BBN) / NP