More stimulus for China

More stimulus for China. China's central bank lowered banks' reserve requirement ratio by 50 basis points, meaning most banks can drop the share of deposits they are required to keep on-hand to 19.5% from 20% earlier. That's the first blanket rate reduction in almost three years, and comes after China's economy grew at its slowest in 24 years last year. In addition to the broad-based 50 basis points cut, rural banks as well as city banks that give out substantial amount of loans to small- and median-sized enterprises will get another 50 basis points cut. The Agricultural Development Bank of China would see its required reserve ratio lowered by 4 percentage points. (VIEW LINK)


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