China cuts RRR for all banks 50 bps, frees up 1T yuan
China's central bank lowered its reserve requirement for most financial institutions by half a percentage point, freeing up about 1 trillion yuan in liquidity banks can use to lend and support economic activity.
The People's Bank of China (PBOC) said the cut in the required reserve ratio (RRR) would lower the cost of capital for financial institutions by about 13 billion yuan, adding this will help bridge a liquidity gap during a peak period when medium-term loans mature and taxes are paid in mid-to-late July. Читать дальше...