China Raises Bank Reserves for a 4th Time

“China raised banks’ required reserves on Sunday for the fourth time this year, extending the fight against excessive liquidity and stubbornly high inflation in the world’s second-largest economy.

The reserve rate rise, which followed an increase in benchmark bank interest rates on April 5, was the seventh since China stepped up efforts against inflation in October and underscored the government’s determination to keep the economy on an even keel.”

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