China's central bank cuts deposit reserve requirement ratio

30 November 2011 14:43  [Source: ICIS news]

GUANGZHOU (ICIS)--The People's Bank of China, its central bank, announced late on Wednesday that it will cut the deposit reserve requirement ratio to 21% from 21.5% from 5 December.

After the deduction, big financial institutions will need to submit 21% of their deposits to the central bank.

The last cut was made almost three years ago in December 2008.

The ratio has beenb raised 12 times since January 2010, of which six were made in the first half of this year to tame inflation.

The latest move is widely believed to be a slight ease on the country's tight monetary policies that have led to difficulties for many enterprises, especially small and mid-sized ones which have struggled to get bank loans to support operations.


By: Staff Reporter
+44 20 8652 3214



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index