Saturday, May 12, 2012
China acts to boost loans, bolster flagging economy
SHANGHAI (Reuters) - China's central bank cut the amount of cash that banks must hold as reserves on Saturday, freeing an estimated 400 billion yuan ($63.5 billion) for lending to head-off the risk of a sudden slowdown in the world's second-largest economy. The People's Bank of China delivered a 50 basis point cut in banks' reserve requirement ratio (RRR), effective from May
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