China official urges cut to required reserve ratio
Beijing
CHINA'S requirement for how much cash banks must hold as reserves is "very high" and should be reduced at an "appropriate time," a senior banking regulator said, according to a media report.
Other financing tools can be used to manage the money supply after easing the required reserve ratio (RRR), China Banking Regulatory Commission official Yu Xuejun said at an event in Beijing, Shanghai Securities News reported on Wednesday. New monetary tools such as the medium-term lending facility are best used after a cut, not before, Mr Yu was cited as saying.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Japanese yen slides back towards 34-year low after brief spike
China’s Bank of Communications Q1 profit rises 1.44%
HSBC’s private bank shuts independent asset management business in HK, Singapore
Nomura Q4 net profit jumps almost eight-fold on retail income surge
Rescue pup to meme star: the real-life ‘Dogecoin’ dog
Money laundering accused Zhang Ruijin slapped with 5 more charges days before scheduled guilty plea