Boost

Bank AI

Wednesday

Coin

<ul class="news-points"> 
 <li>The People’s Bank of China will cut the reserve requirement ratio for banks in February.&nbsp;</li> 
 <li>The 0.5 percentage cut is expected to increase long-term liquidity in the market.&nbsp;</li> 
 <li>Reports note the Central Bank may be considering further economic easing.</li> 
</ul> 
The People’s Bank of China announced on Wednesday plans to cut the reserve requirement ratio (RRR) for banks to release more money and boost the economy, a Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-01-24/pboc-will-cut-rrr-for-banks-in-early-february-governor-says" target="_blank" rel="nofollow">report</a> details, quoting the Central Bank’s Governor Pan Gongsheng. 
According to that report, the Central Bank’s planned RRR reduction will come in early February and is slated as a 0.5 percent cut. A cut at that level will reduce the amount of cash banks are required to keep in their reserves in order to offer their services. Pan, during a briefing with the press on Wednesday, said the RRR cut will stimulate the flow of one trillion yuan or approximately $139 billion in long-term liquidity to the market.&nbsp; 
The announced reserve requirement ratio cut will be the first this year. Last year, the Chinese Central Bank made two reductions, with the last coming in September. Reducing the res…
The post <a href="https://coinedition.com/chinas-central-bank-to-cut-banks-rrr-in-early-february/">China’s Central Bank Set to Cut Bank’s RRR Next Month to Boost Economy</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

China’s Central Bank Set to Cut Bank’s RRR Next Month to Boost Economy

Coin Edition

发布于 2024年1月24日的其他文章

Whales Continue to Buy the Dip: Bonk (BONK), Fantom (FTM), and NuggetRush (NUGX) – Altcoins Poise...

Justin Sun Buys Altcoins on Binance Again: First Time Buying This

Abra Settles With Texas Securities Regulators, Customers Can Now Withdraw Their Funds

The Halving Dilemma: Will Riot Platforms Struggle in the Face of Bitcoin’s Big Shift?

Daily Analysis: BTC, ETH, SOL, AVAX, TIA

Important Updates of Ripple (XRP) Lawsuit: When It Will End?

订阅我们免费的电子期刊，获取每日最新加密领域动态！