China to raise RRR by 50 basis points
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The People's Bank of China (PBOC), the central bank, announced Wednesday that it will raise the deposit reserve requirement ratio (RRR) for Chinese deposit-taking financial institutions by 50 basis points from Nov.16.
This is the fourth rise in the deposit ratio announced by the central bank this year, and the first time since it hiked interest rate by 0.25 percentage points last month to tighten market liquidity.
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