PBoC denies reserve ratio rumour and seeks police investigation

pboc building
The PBoC

The People’s Bank of China has denied market rumours that it will slash the reserve requirement ratio for banks starting from April 1 – a rare move by the central bank as it seldom responds to hearsay.

The PBoC said it is also seeking a police investigation into the rumour’s circulation last week on social media, according to Financial News, its official publication.

“The news today that the PBoC will slash banks’ reserve requirement ratio by 0.5 percentage points is not true,” the central

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