China increases reserve ratio to cut inflation

19/11/10 16:44 CET

economy

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The Chinese central bank is raising banks’ reserve requirements for the second time in two weeks. This takes the reserve ratio for big banks up to a record high at 18.5 per cent.

This move should keep about 350 billion yuan – or 38.5 billion euros – out of circulation and reduce inflation.

The increase will take effect on November 29th.

More about: China, Inflation

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