China raises banks' required reserves again


The State Administration of Foreign Exchange at the People's Bank of China (PBoC) on Sunday raised the proportion of reserves banks must hold at the central bank in a fresh bid to limit lending.

The 50-basis point increase, effective on April 21, increased the required reserve ratio for the country's banks to 20.5%.

The move follows news on Friday that annual inflation had surged to a three-year high of 5.4% in March. Central bank data, released on Thursday, showed that banks lent 679.4 billion

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