Central bank slashes the reserve requirements for banks, freeing extra cash for infrastructure and businesses
China has slashed the amount of cash some of its banks must hold in reserve as Beijing’s leadership seeks to bolster a flagging economy.
As higher US interest rates and fears of a trade war piles pressure on economies around the world, China’s central bank said on Sunday that it was cutting the reserve requirement ratios (RRRs) by 1% from 15 October to lower financing costs and spur growth in the world’s second-biggest economy.
#BREAKING :#PBOC cut #RRR for banks by 1%, effective from 15 Oct.
It will release about 1.2tn yuan liquidity.
Positive sentiment for world market and nifty for sure next week ,
sir your view @Trendmyfriends @sahneydeepak
Link : China pumps 9bn into economy as trade war bites on growth