China raises banks' required reserves again

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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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