Economics
China’s Central Bank Chief Kicks Off Reign With ‘Very Clever' Move
- Reserve ratio cut aimed at helping smaller banks and companies
- ‘Leaders have the guts to do the right thing,’ economist says
People's Bank of China Cuts Reserve Ratios
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Technocrat Yi Gang fended off heavyweight political contenders to become China’s first new central bank governor in 15 years. On Tuesday, he showed why.
In his first major policy move since replacing Zhou Xiaochuan last month, Yi oversaw a 1 percentage point cut in the reserve requirement for most banks.