China orders raise of Bank Reserves

January 12, 2010 Share Print 0

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.

Bloomberg

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Bio
Twitter
Google+
Latest Posts

Dean Popplewell

Vice-President of Market Analysis at MarketPulse

Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.