SHANGHAI — China's central bank on Tuesday announced a series of monetary easing measures and policies to support the housing market as it battles an economic slowdown.
Announcing the measures, People's Bank of China Governor Pan Gongsheng said the reserve requirement ratio – the amount of money commercial lenders must hold – would be cut by half a percentage point. He said the cut would result in a long-term liquidity inflow of about 1 trillion yuan into the financial market.