ecns [expanded by feedex.net]: China cuts RRR by one percentage point

ecns [expanded by feedex.net]

ecns

China cuts RRR by one percentage point
http://www.ecns.cn/business/2015/04-19/162263.shtml
Apr 19th 2015, 12:44




China will lower banks' reserve requirement ratio (RRR) by one percentage point, the central bank announced on Sunday.


The cut, effective from Monday, is the second such move this year. On Feb. 4, the People's Bank of China lowered the RRR, the amount of cash that banks must hold as reserves, by half a percentage point.


Meanwhile, to step up financial support to targeted areas, the central bank decided to cut the RRR by an extra one-percentage point for certain commercial banks lending to small enterprises, the farming sector and major water projects.


The Agricultural Development Bank of China, the sole policy lender for agriculture, gets a RRR reduction of 2 percentage points.


Sunday's RRR cut was within market expectation following lackluster economic performance in the first quarter.


China's gross domestic product (GDP) growth slowed to 7 percent in the first quarter from 7.3 percent in the final three months of last year, marking the worst result in six years and indicating continuing downward pressure on the economy.


Though the growth in the first quarter met the official target of around 7 percent for 2015, the slowdown in several areas, including industrial output and retail sales, has caused concern.




Dozens of city banks granted RRR reduction




Shares down despite RRR cut




Economists talk about RRR cut




RRR cuts to ease liquidity conditions




China's RRR cut not start of strong stimulus: official




RRR cut fails to spur rise in mainland exchanges





G20 'deeply disappointed' by U.S. impasse on IMF reform


Online survey confirms China-Pakistan ironclad friendship


China always welcomes U.S., Japan to join AIIB: minister


China aims to make RMB more freely usable: central bank governor


China builds mother ship for 11,000-meter manned submersible


China cuts RRR by one percentage point


DPRK leader says nuclear weapon no match for revolutionary spirit


Chinese, Saudi leaders discuss Yemen over phone


Couple adopt more than 40 homeless children in 26 years


License plate sale draws a crowd





You are receiving this email because you subscribed to this feed at https://blogtrottr.com

If you no longer wish to receive these emails, you can unsubscribe here:
https://blogtrottr.com/unsubscribe/qhG/Zc7fXt