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PBOC cuts reserve requirement ratio

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The People’s Bank of China (PBOC) cut reserve requirement ratio (RRR) for banks by 50 basis points, effective 1st March.

    The central bank said the rate cut is initiated to maintain reasonable, ample liquidity in financial system.

    The onshore (CNY) and offshore (CNH) exchange rates against the USD dropped to three-week lows following the rate cut announcement.
    For more information, read our latest forex news.
     

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