Open Demo Account
Home / Market Update / PBOC Cuts RRR by 50 bps

PBOC Cuts RRR by 50 bps

Adel 9 July, 2021 3:30 pm Market Update

In an unexpected move, the People’s Bank of China (PBOC) cut the Reserve Ratio Requirement (RRR) for banks by 50 bps with effect from July 15.

Weighted average RRR for all financial institutions at 8.9% after the new cut.

Tags

Check Also

Bitcoin Tumbles 2.8% as Fed’s Hawkish Shock Sends December Rate Hike Odds to 85%: Iran MOU Fails to Lift Crypto

Key Takeaways Bitcoin reverses: The world’s largest crypto fell 2.8% to $63,964.6, giving back a …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends