China unexpectedly raised the proportion of deposits that banks must set aside as reserves to cool the worldÃ¢â‚¬â„¢s fastest-growing major economy as a credit boom threatens to stoke inflation and create asset bubbles.
The PBOC said
the Reserve requirements will increase by 50 basis points starting Jan. 18.
The existing level for big banks is 15.5 percent. The move wasnÃ¢â‚¬â„¢t anticipated until at least April.
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