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China's central bank cuts reserve requirement ratio
China's central bank is injecting more cash into the economy to cushion the blow from the latest wave of coronavirus infections.
The People's Bank of China said on Friday that it will cut the reserve requirement ratio by 0.25 percentage point for most commercial banks, and 0.5 point for rural banks. The measure will take effect on April 25.
China last lowered the reserve requirement in December. A lower ratio gives banks more cash to lend.
The latest step will increase cash supplies by about 530 billion yuan, or about 83 billion dollars. It's mainly intended to meet the funding demands of small- and medium-sized firms.
https://www3.nhk.or.jp/nhkworld/en/news/20220416_02/