China's central bank lifts reserve requirment by 50bp
Apr 5, 2007
HONG KONG (MarketWatch) -- China's central bank announced Thursday it will boost the reserve requirement ratio of banks by 50 basis points effective April 16. The move is the third increase in reserve requirement this year and follows a 27 basis point hike in short-term interest rates on March 18. The People's Bank of China announced the move through a statement published on its Web-site.
China's markets may react to this news when they open again on 4-10. The only purpose of the rate requirement is to pressure their markets........
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