DailyMarkets.com - People’s Bank Of China Cuts RRR 50 Basis Points

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People’s Bank Of China Cuts RRR 50 Basis Points Posted: 12 May 2012 02:22 PM PDT The People’s Bank of China (PBOC) announced a 50 basis point cut in the required reserve ratios (RRR) for deposit taking financial institutions, effective 18 May 2012.  The new required reserve ratios will average 20.00% for large banks, and 18.00% for small banks.  The move is expected to add as much as 400 billion yuan of liquidity to the financial system.  The move marks a continued shift in the policy bias to loosening, with the PBOC previously being … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

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