{"id":61396,"date":"2024-01-25T01:16:03","date_gmt":"2024-01-24T16:16:03","guid":{"rendered":"https:\/\/www.theguardian.com\/world\/2024\/jan\/24\/china-05-per-cent-cut-bank-minimum-reserves"},"modified":"2024-01-25T01:16:03","modified_gmt":"2024-01-24T16:16:03","slug":"china-announces-0-5-cut-in-banks-minimum-reserves","status":"publish","type":"post","link":"https:\/\/eastasianews.net\/wp\/?p=61396","title":{"rendered":"China announces 0.5% cut in banks\u2019 minimum reserves"},"content":{"rendered":"<p>Biggest reduction since December 2021 will allow 1tn more yuan to be released in form of new loans<\/p>\n<p>China\u2019s 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.<\/p>\n<p>Pan Gongsheng, the governor of the People\u2019s 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 (\u00a3110.8bn) to be released in the form of new loans.<\/p>\n<p> <a href=\"https:\/\/www.theguardian.com\/world\/2024\/jan\/24\/china-05-per-cent-cut-bank-minimum-reserves\">Continue reading&#8230;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Biggest reduction since December 2021 will allow 1tn more yuan to be released in form of new loansChina\u2019s 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&#8230;<\/p>\n","protected":false},"author":3586,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"sns_share_botton_hide":"","vkExUnit_sns_title":"","_vk_print_noindex":"","sitemap_hide":"","_veu_custom_css":"","veu_display_promotion_alert":"","vkexunit_cta_each_option":"","footnotes":""},"categories":[41,291,6,50,42],"tags":[],"class_list":["post-61396","post","type-post","status-publish","format-standard","hentry","category-asia-pacific","category-banking","category-business","category-china","category-world-news"],"veu_head_title_object":{"title":"","add_site_title":""},"_links":{"self":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/61396","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/users\/3586"}],"replies":[{"embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61396"}],"version-history":[{"count":2,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/61396\/revisions"}],"predecessor-version":[{"id":61405,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/61396\/revisions\/61405"}],"wp:attachment":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}