China plans to reduce banks’ obligatory reserve, interest rates

BEIJING - Saba: Beijing plans to reduce banks' obligatory reserve and interest rates imposed on loans, chairman of the Chinese Central Bank told reporters on Tuesday, to prompt the national economy. In order to provide the financial market with long-term liquidity of one trillion yoans, obligatory reserve rate will be cut by 0.5 percent very soon, Ban Gongshing added at press conference. Source: Yemen News Agency