China Cuts Banks' Reserve Requirement Ratio

  • RRR will drop to 17% for biggest banks; still high globally
  • Move follows up on signals in recent days of more easing

China Cuts Reserve Ratio in Latest Economic Boost

China’s central bank stepped up efforts to cushion its economic slowdown amid plunging stock prices and a weakening currency, cutting the amount of cash the nation’s lenders must lock away.

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