China cuts bank reserves to safe the stability of its economyFeb 04 2015
Today, the Chinese Central bank has taken a great step to boost the bank lending, and cut its bank reserves aiming at refreshing the slowing growth in the second largest economy. In fact, China has increased its economic stimulus measures amid signs of capitol outflows and the weak Chinese currency. This action form the central bank comes just before Lunar New Year Holiday in China which will begin in mid February. Where the individuals will need cash at that time.