China's central bank to cut RRR by 0.5 percentage points
Release time：2024-05-21 08:33:21 Source：Culture Corner news portal
(ECNS)-- The People's Bank of China, the country's central bank, will lower the reserve requirement ratio by 0.5 percentage points, effective on Feb. 5, Pan Gongsheng, its governor, said at a press conference on Wednesday.
It will provide the market with approximately 1 trillion yuan in long-term liquidity, Pan added.
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