New Overnight Developments Abroad - Daily Update
Chinese Central Bank Reserve Requirement Cut on Leap Year Day
February 29, 2016
The People’s Bank of China lopped another 50 basis points off its deposit reserve requirement ratio to 17.0%. Five reductions in 2015 had reduced such to 17.5% from 20.0%, but the fifth of these was done five months ago in late October. This kind of stimulus risks exposing the yuan to greater selling pressure. The […] More
