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China's central bank freezes more cash
By Zhang Fengming |
November 19, 2010, Friday
|
Online Edition
Online Edition
China today asked banks to put aside more money from lending, the fifth such order this year, to curb liquidity.
The reserve requirement ratio on banks will rise by 0.5 percentage points from November 29, the People's Bank of China said on its Website.
The order is estimated to freeze an extra 300 billion yuan (US$45.18 billion).
Big banks in China will face a record 18.5 percent requirement.
The move is widely expected on China's credit-driven inflation.
The reserve requirement ratio on banks will rise by 0.5 percentage points from November 29, the People's Bank of China said on its Website.
The order is estimated to freeze an extra 300 billion yuan (US$45.18 billion).
Big banks in China will face a record 18.5 percent requirement.
The move is widely expected on China's credit-driven inflation.
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