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July 9, 2021, 5:48 a.m. EDT

China's central bank lowers reserve requirements by a half point

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By Steve Goldstein

The People's Bank of China announced Friday it was cutting reserve requirements for its banks to help bolster the world's number-two economy. The PBOC said, effective July 15, that reserve requirements would be lowered by a half point, to a weighted average of 8.9%.

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