China's Yuan Weakens Past 7.35 as PBOC Cuts Reserve Requirement Ratio to Record Low
The People's Bank of China slashed the reserve requirement ratio by 50 basis points to 6.5%, the lowest in history, as Beijing steps up monetary easing to combat deflation and a deepening property crisis that has wiped out trillions in household wealth.
The People's Bank of China slashed the reserve requirement ratio by 50 basis points to 6.5%, the lowest in history, as Beijing steps up monetary easing to combat deflation and a deepening property crisis that has wiped out trillions in household wealth.
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