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China Taking Additional Steps to Ease
According to Xinhua, the People’s Bank of China stepped up its intervention in the money market today by injecting 183B yuan ($28.9B) in new cash into the banking system.
In total, the central bank released a total of 352B yuan of liquidity into the banking system this week for the Spring Festival holiday.
The article stated that the amount of cash the PBoC released back to lenders through its open market operations is equivalent to lowering banks' Reserve Ratio Requirement by 0.5%.
iShares China - Last 12 Month
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