China Slashes Banks’ Reserve Requirements Again as Economy Slows

The People’s Bank of China headquarters in Beijing.

(From Reuters)

China’s central bank said on Friday it was cutting the amount of cash that banks must hold as reserves for the fifth time in the past year — freeing up $116 billion for new lending as it tries to reduce the risk of a sharper economic slowdown.

The latest support measures come amid mounting worries about the health of the world’s second-largest economy, which is facing both slowing demand at home and punishing U.S. tariffs on its exported goods.

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