The People’s Bank of China will cut the reserve requirement ratio for the second time this year. Photo: Bloomberg
China to cut reserve requirement ratio for second time this year to boost economic growth amid strong headwinds
- PBOC decision comes only three days after Premier Li Keqiang said China would cut the RRR ‘at an appropriate time’
- Move comes amid signs that China’s economic growth is slowing, while a downturn in the property market appears imminent
The People’s Bank of China will cut the reserve requirement ratio for the second time this year. Photo: Bloomberg