Friday, December 10, 2010

Bank reserve ratio on December 20

On December 10 evening news, the people's bank of China raised financial organ renminbi today decide the deposit reserve rate 0.5 percentage point. , raised by 0.5 percentage points since, but frozen bank capital about 3,500 billion yuan.
Data from the central bank, financial institutions in late November RMB deposit balance 70.87 trillion yuan. Raised by 0.5 percentage points, but frozen bank capital about 3,500 billion yuan. Industrial bank (24.26, 0.38, 1.59%) fund operation center, chief economist of sina finance and economics said lu commissar, "today to raise deposit reserve rate conform to expectations, such a hike does not constitute too much tightening, from December to see, fiscal deposit may shall flow, and at present the trillions of insufficient 4000 billion raised reserve lock. Yuan-denominated liquidity remained moderate state." Lu and gaott said.
This is the sixth year to raise deposit reserve rate, large bank reserve ratio as high as 18.5%, become an all-time high. Previous highs appear in the June 2008 the deposit reserve rate for 17.5%.
The people's bank of China announced today, from December 20 date raised financial organ renminbi deposit reserve rate 0.5 percentage point

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