China to boost bank lending power, though IMF says no need

By Koh Gui Qing BEIJING (Reuters) – China aims to cut the proportion of cash that commercial banks must keep with the People’s Bank of China, the country’s banking regulator said on Friday, signaling further monetary loosening although the IMF and World Bank say its economy is doing fine. The China Banking Regulator Commission (CBRC) did not say when reductions in banks’ reserve requirement ratios (RRR) would be made, but it is the third time in as many months that Beijing has signaled a cut in RRRs, which would free up more cash for lending needed to shore up growth. The CBRC did, however, qualify its comments, saying RRR reductions would be available to those banks whose lending to small firms and the farm sector warranted the reward.

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Source: China to boost bank lending power, though IMF says no need

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One comment

  1. Eastern Europe is projected to have the hghseit rate of economic growth next year – mostly for the reason that the other economies are really hurting. But still good news. 3.5-4.0% growth is not bad with the state of affairs being where they are.

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