China cuts bank reserves again to fight slowdown

April 19, 2015 9:34 AM

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China cuts bank reserves again to fight slowdown

BEIJING (Reuters) - China's central bank on Sunday cut the amount of cash that banks must hold as reserves, the second industry-wide cut in two months, adding more liquidity to the world's second-biggest economy to help spur bank lending and combat slowing growth.

The People's Bank of China (PBOC) lowered the reserve requirement ratio for all banks by 100 basis points to 18.5 percent.

Also read: India cenbank says to withdraw temporary cash reserve ratio hike

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