China’s central bank has announced it is again slashing the interest rate and reserve requirement ratio, so as to release more liquidity and lower financing costs. The move comes two months after the previous cut in August, and marks the fifth such reduction in 2015. The People’s Bank of China (PBOC) slashed the one-year benchmark bank lending rate by 0.25% to 4.35%, and the one-year benchmark deposit rate by 0.25% to 1.5%. The reserve requirement ratio, which sets the minimum amount of deposit a bank must keep, is reduced by 0.5%.
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