Source: Bloomberg The People’s Bank of China has cut down its foreign currency holdings reserves following the significant depreciation of the yuan against the greenback. MCHI is down 2.91%, while KWEB is down 1.43%. The PBOC said the reserve requirement for foreign currency holdings will be slashed to 8% starting May 15 from the current level of 9%.The decline seeks to … [Read more...] about China Cuts Forex Reserve Ratio as Yuan Weakens to 17-Month Low
PBOC
PBOC Cuts Bank’s Reserve Requirements as Growth Stalls
Source: Bloomberg China’s central bank has reduced its reserve requirements for most of its lenders by 25 basis points and 50% for smaller banks to cushion the slowing economy. CSI 300 is down -0.67%, USDCNY is down -0.10%. The change is expected to become effective on April 25, generating around 530 billion yuan or $83 billion of liquidity to the economy.Officials … [Read more...] about PBOC Cuts Bank’s Reserve Requirements as Growth Stalls
