In order to stimulate the economy, the People’s Bank of China (PBoC), effective on April 20, lowered the RRR by -100 bps for all the banks, and an additional -100 bps for some rural financial institutions and -200 bps for the Agricultural Development Bank of China. The RRR for rural cooperative banks will also be lowered to rural credit cooperatives’ level.
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China Cut RRR by -100 bps, Biggest Size Since 2008
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