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China's central bank to cut reserve requirements

Updated : June 25, 2018 06:48 AM IST

The move to cut the amount of cash banks must hold in reserve will free up a combined 700 billion yuan ($108 billion) in funding at commercial banks and the largest state-owned banks.
The policy is set to come into effect on July 5, one day before new US tariffs are due to be imposed on Chinese imports worth $34 billion.
China's central bank to cut reserve requirements
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