China's reserve ratio requirement up
The raise is the eighth such move so far this year as the People's Bank of China seeks to strengthen liquidity management in the banking system and check the excessive credit growth.
By Agencies |
BEIJING: China's central bank announced on Saturday that it would raise the reserve ratio requirement for commercial banking institutes by half a percentage point to 13 per cent as of October 25.
This will be the eighth such move so far this year as the People's Bank of China seeks to "strengthen liquidity management in the banking system and check the excessive credit growth," the bank said in a statement on its website.
The hike in the reserve ratio comes after the central bank announced a 27 basis point rise in deposit and lending interest rates on September 14.
The rate adjustments have come as a slew of data has shown the world's fourth-largest economy galloping ahead with inflation at a decade high.
This will be the eighth such move so far this year as the People's Bank of China seeks to "strengthen liquidity management in the banking system and check the excessive credit growth," the bank said in a statement on its website.
The hike in the reserve ratio comes after the central bank announced a 27 basis point rise in deposit and lending interest rates on September 14.
The rate adjustments have come as a slew of data has shown the world's fourth-largest economy galloping ahead with inflation at a decade high.
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