The People’s Bank of China said it would cut the reserve ratio requirement for smaller banks by 1 percentage point in two phases. The targeted RRR cut will release around 400 billion yuan ($56.4 billion) into the banking system, according to the PBOC.
THE deadly coronavirus outbreak has been met with a wide-ranging response from China’s policy makers seeking to cushion the economy, support financial markets and bolster investor confidence.
Here’s a look at some of the steps taken, along with market reaction.
Thursday, April 9
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