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China to cut reserve requirement ratio for second time this year to boost economic growth amid strong headwinds

Summary:
[unable to retrieve full-text content]China’s central bank has announced its second reserve ratio cut this year to shore up the economy, as the nation’s leaders prioritise stability ahead of a key political meeting next year.The People’s Bank of China said on Monday that it will cut the reserve requirement ratio (RRR) for major commercial banks by 0.5 percentage points, releasing 1.2 trillion yuan (US8 billion) worth of long-term liquidity into the interbank system on December 15 with an aim of supporting the Chinese economy in…

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[unable to retrieve full-text content]
China’s central bank has announced its second reserve ratio cut this year to shore up the economy, as the nation’s leaders prioritise stability ahead of a key political meeting next year.The People’s Bank of China said on Monday that it will cut the reserve requirement ratio (RRR) for major commercial banks by 0.5 percentage points, releasing 1.2 trillion yuan (US$188 billion) worth of long-term liquidity into the interbank system on December 15 with an aim of supporting the Chinese economy in…

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