Monday, 21 Feb 2011
Reuters reported that China central bank would once again raise lenders required reserves by 50 basis points and the second time this year and the eighth official increase since the start of last year.
The People Bank of China said the increase will be effective February 24.
It is Beijing latest step to mop up excess cash in the economy. Annual inflation was 4.9% in January and slower than market expectations, but it still marked an acceleration from 4.6% in December.
(Sourced from Reuters)
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