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China: Central bank cuts reserve requirements by 0.5%

2021-12-06T09:41:59.078Z

The Central Bank of China announced a 50 basis point cut in the compulsory reserve of credit institutions, reaching 8.4%, with effect from 15 December. The move, explained the Pboc in a note, will make it possible to free about 1. (ANSA)

(ANSA) - BEIJING, DECEMBER 06 - The Chinese central bank has announced the cut in the compulsory reserve of credit institutions by 50 basis points, reaching 8.4%, with effect from 15 December.

The move, the PBOC explained in a statement, will make it possible to free up about 1,200 billion yuan (190 billion dollars) that will be used for long-term financing in order to support the economy.

(HANDLE).


Source: ansa

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