China orders banks to up reserves in bid to stem inflation

first_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Tags: NULL John Dunne Friday 19 November 2010 6:47 am Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter Centercenter_img whatsapp China’s central bank has increased the amount of money that lenders must keep in reserve, in its latest bid to stem inflation.The People’s Bank of China said the reserve ratio would go up by a further 0.5 percentage points on 29 November.The move comes after Chinese inflation hit a two-year high of 4.4 per cent last week as the country continued its rapid economic growth. The central bank hopes that increasing the level of funds Chinese banks have to keep in reserve will help to dampen inflation, as it will limit the amount of money the banks can lend.Food prices have risen sharply, prompting the government to provide subsidies for its poorest citizens.The central bank also increased interest rates last month for the first time since 2007. whatsapp China orders banks to up reserves in bid to stem inflation Show Comments ▼last_img

Leave a Reply

Your email address will not be published. Required fields are marked *