China to Cut Banks’ Reserve Requirement, Freeing Up $175 Billion

China’s central bank announced on Sunday that it will cut the amount of cash lenders must set aside as reserves from Oct. 15, freeing up additional liquidity in the banking system in a bid to support the economy. The People’s Bank of China (PBOC) will lower the reserve requirement ratios (RRRs) by 100 basis points for most commercial banks and all the foreign banks, accor …

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