Cumberland News Now - Business

Article

Print
Send to a friend
Comment (0)

Chinas central bank raises reserve requirement ratio by 0.5 percentage points from Jan. 18

Published on January 12, 2010; Published on February 24, 2010
The Associated Press ~ staff The News

Topics :: Chinas central bank , People's Bank of China , China , BEIJING

BEIJING - China's central bank is raising the reserve requirement ratio by 0.5 percentage points effective Jan. 18.
The credit-tightening move is the first adjustment in the amount of money banks are required to keep on deposit since June 2008. It reflects concerns over a possible rise in inflation this year as China's economy rebounds.
Agricultural credit co-operatives and other rural financial institutions were exempt from the move to ensure adequate financing is available for the spring planting season, the People's Bank of China said in a brief statement on its Web site posted Tuesday.

Rate
Top of the page

Submit a comment

Submit a comment Your name* Email* (we keep all emails private) Write your comment here*

Agreement

We ask that users remain courteous. You may not post insulting, discriminatory or inappropriate content, which may be removed at our discretion. We are not responsible for user content and opinions. Use of this site as well as content submission & ownership are governed by our Conditions of Use and Privacy Policy.

Member organizations should be non-profit in nature, and promote legal activities. Any organization found promoting illegal activities or commercial products or services will be deleted from the site.

I agree with these conditions.