China's central bank has relaxed reserve requirements for banks for the third time this year, in a bid to ease pressure on the country's economy from the ongoing trade dispute with the US. The People's Bank of China (PBOC) said in early September it would lower the reserve requirement ratio (RRR) by 50 basis points (bps) for all banks, with qualified city commercial banks enjoying a further 100bps cut. The RRR for large banks has been lowered to 13%. The cut has increased banks' ability to lend by Rmb900bn ($126.35bn), at a time when economic growth in the country is sputtering.
展开▼
