PBOC Cuts Reserve Requirement Ratio By 50bp

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2018-06-24 HKT 18:48

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  The central bank wants to boost the financing of small enterprises. Photo: Shutterstock

In a fresh attempt to boost liquidity, Beijing on Sunday lowered the amount of reserves banks need to keep at the central bank.

The People's Bank of China said it is reducing the reserve requirement ratio by 50 basis points from July 5. The aim is to help small enterprises.

Andy Kwan, director of ACE Centre for Business and Economic Research said it was not a powerful policy move but it would help stabilise investor confidence.

Kwan said he didn't think one move would be sufficient.