China to cut reserve requirement ratio: central bank governor
The People's Bank of China, the country's central bank, announced on Tuesday that it will soon reduce the bank reserve requirement ratio by 0.5 percentage points, injecting around 1 trillion yuan ($141.81 billion) in long-term liquidity into the financial markets.
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Bitcoin poised for a rally as China announces a significant stimulus, potentially driving prices to new highs.
The raft of new measures aims to jumpstart the economy amid a yearslong property downturn, muted consumer demand, and high youth unemployment.
China will cut the reserve requirement ratio (RRR) by 0.5 percentage points in the near future, providing about 1 trillion yuan (about 141.78 billion U.S. dollars) in long-term liquidity to the ...
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