China announces 0.5% cut in banks’ minimum reserves
Biggest reduction since December 2021 will allow 1tn more yuan to be released in form of new loans
China’s central bank announced a surprise cut to the amount of cash that banks must hold in reserve on Wednesday, hoping to boost the lending available to households and businesses as policymakers try to steer the economy through a fragile recovery.
Pan Gongsheng, the governor of the People’s Bank of China (PBOC), said that the reserve requirement ratio would be cut by 0.5% from 5 February, the deepest cut to the rate since December 2021. The move will allow around 1tn yuan (£110.8bn) to be released in the form of new loans.
＼ 最新情報をチェック ／
