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China's central bank to cut reserve ratio from Dec 15

ABSTRACT

The People's Bank of China (PBOC), China's central bank, announced on December 6 that it will cut the reserve ratio of financial institutions by 0.5 percentage point from December 15 to support the economy and cut financing costs for businesses, especially for medium, small and micro enterprises, it said.
The latest reserve ratio cut will be applicable to all financial institutions except those whose reserve ratio was already at a low of 5%, PBOC said in a notice, adding that the latest blanket cut will free up some Yuan 1.2 trillion ($188.4 billion).   The bank vowed to continue to adopt

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