China central bank says to cut reserve requirements, interest rates
China's central bank will cut banks' reserve requirement ratio by 50 basis points and further reduce key interest rates to support a recovery in prices, its governor Pan Gongsheng said on Tuesday. Pan,
PBoC Governor: China will cut reserve requirement ratio by 50 basis points
People’s Bank of China Governor Pan Gongsheng said during a press conference on Tuesday that China will cut the amount of the reserve requirement ratio (RRR) by 50 basis points (bps). Pan added that the Chinese central bank would cut the 7-day repo rate to 1.5% from 1.7% and down payments for second homes will be cut to 15% from 25%.
Philippine central bank cuts reserve requirement ratios
For universal and commercial banks, the RRR has been reduced to 7%. The Bangko Sentral ng Pilipinas (BSP) has reduced the reserve requirement ratios (RRR) for financial institutions by up to 250 basis points,
China to cut reserve requirement ratio in near future
China will cut the reserve requirement ratio (RRR) by 0.5 percentage points in the near future, providing about 1 trillion yuan (about 141.78 billion U.S. dollars) in long-term liquidity to the financial market, Pan Gongsheng, governor of the People's Bank of China, said Tuesday.
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