China raises reserve ratio

The People's Bank of China made a fresh bid to slow the country's overheating economy on Thursday, raising its reserve requirement ratio for the third time this year.

The ratio rose half a point to 16%. The central bank said the decision was made "in order to continue implementing the decision on tightening monetary policy, strengthen liquidity management in the banking system and guide the rational growth of money and credit." Wen Jiabao, China's premier said on Wednesday that fighting infla

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