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China cuts bank reserves again to fight slowdown

Reuters  |  BEIJING 

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.The reduction is effective from April 20, the central bank said in a statement on its website The latest cut in the reserve requirement shows how the central bank is stepping up efforts to ward off ...

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First Published: Sun, April 19 2015. 15:28 IST