Central bank lowers reserve ratio
By Chen Jia | China Daily | Updated: 2015-04-20 09:54
China's central bank announced that it was lowering the amount of cash that all financial institutions need to reserve starting on Monday.
The move will release liquidity of at least 1.2 trillion yuan ($197 billion) to support economic growth.
It is the second reserve requirement ratio cut in three months. The 1 percentage point drop was the largest since November 2008.
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