China Cuts Bank Reserve Ratio
Tweet
Share
E-mail
Chinese regulators cut bank reserve requirements for the first time since 2008 Tuesday, as the Eurozone crisis pressures global economies.
The People's Bank of China said it will cut the amount Chinese banks have to set aside for resreves by 50 basis points effective December 5.
Before today's reversal, China raised the reserve requirement six times this year to a record 21.5 percent for the biggest lenders.
The People's Bank of China said it will cut the amount Chinese banks have to set aside for resreves by 50 basis points effective December 5.
Before today's reversal, China raised the reserve requirement six times this year to a record 21.5 percent for the biggest lenders.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Five9 to join S&P SmallCap 600 index on August 3
- Fed's Warsh: economy showing impressive resilience; no soft target for inflation
- Saudi Arabia is seeking to build international coalition to protect Red Sea shipping from Houthi attacks - Reuters
Create E-mail Alert Related Categories
Market Check, Trader TalkRelated Entities
Standard & Poor'sSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
