China Preserves Ammunition With Reserve-Ratio on Hold: Economy

China held off on a reduction in bank reserve requirements that some economists had predicted would come before a week-long holiday ending Jan. 28, suggesting officials are cautious on more monetary easing.

Barclays Capital Asia Ltd., JPMorgan Chase & Co. and Industrial Bank Co. said this month that ratios were likely to fall ahead of the Lunar New Year festival, which boosts demand for cash. The central bank instead used reverse-repurchase contracts to add money to the financial system.