China lifts reserve requirement ratio

The People's Bank of China, the country's central bank, raised the amount that lenders are required to hold in reserve for the ninth time in 13 months.

The 0.5% hike will take effect on August 15, the central bank said, and will take the ratio for big banks to 12%. The People's Bank said that the increase was aimed at "strengthening management over liquidity in the banking system and controlling excessive growth in money supply and credit".

The rise, which comes after the increase in interest r

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