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China cuts bank reserve requirement to counter slowdown

Reuters  |  BEIJING 

BEIJING (Reuters) - China's central bank cut the reserve requirement ratio for all banks by 100 basis points on Sunday, the second reduction in two months, as it steps up measures to boost bank lending and combat slowing growth.The country's largest banks will now be required to withhold 18.5 percent of cash reserves from lending.The People's Bank of China previously lowered the reserve requirement ratio for all commercial banks by 50 basis points on Feb. 4, the first industry-wide cut since May 2012. (Reporting by David Stanway; Editing by David Goodman)

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First Published: Sun, April 19 2015. 15:09 IST
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