BANGKOK (AP) — China’s central bank said Wednesday it will cut the ratio of reserves banks must hold to help boost the slowing economy.
The announcement by the People’s Bank of China prompted a surge in share prices in Chinese markets, with Hong Kong’s benchmark jumping 3.6%.
Central bank Gov. Pan Gongsheng said the deposit reserve requirement would be cut by 0.5% as of Feb. 5. Pan said that would inject about 1 trillion yuan ($141 billion) into the economy.
He told reporters in Beijing that the central bank also soon plans to issue a policy on lending to property developers to help support the industry.
2025-01-13 18:592090 view
2025-01-13 18:432856 view
2025-01-13 17:522358 view
2025-01-13 17:42659 view
2025-01-13 17:291007 view
2025-01-13 16:50913 view
DES MOINES, Iowa (AP) — Former U.S. Rep. Jim Leach, who served 30 years as a politician from eastern
Augusta National Golf Club is top of mind with golf fans after Hurricane Helene hit Augusta, Georgia
NUCLA, Colo. (AP) — Wildfire investigators looking for the cause of blaze in western Colorado last m