AUD gets boost from Chinese RRR cut

Author: Sean Lee | Category: news

Author: Sean Lee

The Chinese central bank has said that the proportion of cash which lenders has set aside will drop by 0.5% on February 24th, Bloomberg reports. The idea is to try and reinvigorate a slowing economy, by helping domestic demand fill the void being made by falling exports. The PBOC face the tricky task of doing this whilst keeping inflation under control.