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China cuts banks' reserve ratio to aid recovery
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The People's Bank of China (PBOC) said it would cut the reserve requirement ratio (RRR) for all banks, except those that have implemented a 5% reserve ratio, by 25 basis points from Sept.
15.
The move came after the world's second-biggest economy has struggled after its post-pandemic recovery faltered.
To support the economy, the government has rolled out a series of policy measures in recent months, including steps to spur housing demand.
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