China ordered banks to set aside more deposits as reserves for the second time in a month to cool the fastest-growing major economy after loan growth accelerated and property prices surged.
The reserve requirement will increase 50 basis points effective Feb. 25, the PeopleÃ¢â‚¬â„¢s Bank of China said on its Web site today. The current level is 16 percent for big banks and 14 percent for smaller ones.
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