Posted 1/24/2024, 7:53:49 AM
China Cuts Reserve Requirement to Inject $140B into Economy, Boost Liquidity
- China's central bank cut the reserve requirement ratio by 50 basis points, injecting 1 trillion yuan ($140B) into the economy
- The cut takes effect February 5th to help quell market panic and boost confidence
- The central bank vowed to maintain ample liquidity in 2023 using various tools
- It will strengthen monitoring of financial risks and early warning capabilities
- It also cut lending rates for small firms and agricultural businesses by 25 basis points