China cuts reserve ratio requirement as growth slows
World BusinessApr 19, 2015
BEIJING (AFP) -- China's central bank announced Sunday it would cut the level of funds that commercial banks must hold in reserve by one percentage point, the second such move this year to boost lending.The move, effective Monday, comes days after the world's second largest economy reported its worst quarterly growth figure for six years.In a statement on its website, the People's Bank of China said the cut would "further enhance the ability of financial institutions to support restructuring".Th