China to cut reserve requirement ratio by 25 bps to boost economy
2022-04-16 09:33:07 source：CGTN
April 15, 2022
China's central bank announced on Friday it would cut the reserve requirement ratio (RRR), the amount of cash financial institutions must hold in reserves, by 0.25 percentage points, effective from April 25.
The move is set to release 530 billion yuan ($83 billion) in long-term liquidity, the People's Bank of China (PBOC) said in a statement.
By freeing up reserves, the PBOC expects financial institutions to support industries and small, medium and micro enterprises (SMEs) badly hit by the pandemic.
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