Central Bank to Raise Reserve Ratio by 50 Basis Points on Jan 20
Published:
2011-01-14
The People's Bank of China, the country's central bank, posted a notice to its official website at about 6pm this evening announcing that it had decided to increase the reserve ratio of deposit-taking financial institutions by 0.5 percentage points, as of January 20, 2011. This is the first time this year that the bank has officially raised the ratio, and follows six adjustments to the ratio in 2010. The move is designed to curb credit growth ahead of the announcement of both the December and 2010 CPI figures on January 20.
Source
People's Bank of China
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