China cuts bank reserve requirement to boost economy
Sunday, April 19, 2015 4:47 PM UTC
- China's central bank cut the reserve requirement ratio for all banks by 100 basis points on Sunday, the second reduction in two months, as it steps up measures to boost bank lending and combat slowing growth.
- Chinese banks will now be required to withhold 18.5 percent of cash reserves from lending.
- PBOC previously lowered the reserve requirement ratio for all commercial banks by 50 basis points on Feb. 4, the first industry-wide cut since May 2012.
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