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China Cuts Reserve Requirements
Cash that banks must set aside is reduced for the second time in three months.
China cut the amount of cash that banks must set aside as reserves for the second time in three months to spur lending as Europe’s debt crisis and a cooling property market threaten economic growth.
Reserve requirements will fall by 50 basis points effective Feb. 24, the People’s Bank of China said on its Saturday. Before the move, the ratio for the nation’s largest lenders stood at 21 percent.
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