China hikes banks' reserve requirements 0.5%

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HONG KONG (MarketWatch) -- The People's Bank of China late Friday hiked the ratio of reserves banks are required to set aside by 0.5%, the second such hike this year, according to the official Xinhua news agency, which cited a statement by the central bank. The adjustment will bring the official reserve requirement ratio for big banks to 19.5% effective Feb. 24., the report said.

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