China lowers the amount of cash banks must set aside as reserves for the second time in less than a month, as it works to boost its coronavirus-stricken economy
April 3, 2020 6:17 am ET
BEIJING—China’s central bank said Friday that it would lower the amount of cash banks are required to set aside as reserves for the second time in less than a month, as Beijing moved to stimulate a cooling economy hit hard by the coronavirus pandemic. The People’s Bank of China said it would cut the reserve requirement ratio for city commercial banks and rural lenders by one percentage point, freeing up 400 billion yuan in liquidity in the banking system.
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