World Economy

China Cuts Bank Reserves

China Cuts Bank ReservesChina Cuts Bank Reserves

China’s central bank increased its economic stimulus measures even further Wednesday amid growing concerns about the rate of expansion in the world’s second-largest economy, CNBC reported. The People’s Bank of China decided to cut banks’ reserve requirement ratio by 50 basis points to 19.5%. The move, effective Thursday, is the first such cut since May 2012.