China’s banks’ RRR

china economyTC

Trimming RRR, Interest Rates Won’t Save China’s Economy

Guan Qingyou via Caixin | The Chinese central bank’s decisions to trim banks’ reserve-requirement ratios and benchmark interest rates this year have all coincided with bad news, so it was hardly surprising that it would make cuts again on October 23, shortly after the National Bureau of Statistics said the country’s GDP growth rate for the third quarter fell to 6.9 percent.