China's central bank cuts reserve ratio for some lenders

The PBOC said it will cut for most lenders the amount of cash set aside as reserves from Oct. 15

It comes as the U.S. and China have forced duties on each other's products in succession that is hitting organizations and dangers harming the worldwide economy.

Previously, in an attempt to curtail expanding corporate debt and prevent asset bubbles, Chinese President Xi Jinping's leadership put more emphasis on monetary tightening than economic growth. These banks traditionally serve the country's big state enterprises. It has even censored bad economic news.

This photo taken on August 1, 2018 shows the People's Bank of China, the country's central bank.

"China's economy is under heavy downward pressure. and you need time to observe if recent easing measures are effective or not", he added.

An afternoon recap of the day's most important business news, delivered weekdays.

Xu further added, "The trade war's impact on the economy is showing". Trade is not as important to China as it once was, thanks in part to the rise of a middle class that has been a ready buyer of Chinese goods at home. Both the official and unofficial purchasing managers' indexes for the manufacturing sector fell to their lowest levels since February on the back of a slump in export orders, production and inventory in September.

China has struck back with its very own arrangement of taxes and has blamed the USA for propelling the biggest exchange war in monetary history.

Consumers are spending less. At its two-day meeting ending later on Wednesday, the Fed is expected to increase US interest rates for the third time this year. Wage growth is plodding. The pace at which companies are defaulting on their bonds has quickened. The offshore yuan was trading 0.01 percent firmer than the onshore spot at 6.8697 per dollar.

Lionel Messi vs Cristiano Ronaldo: Antoine Griezmann Ballon d’Or suggestion made
Afterwards, there are votes, opinions, different judgements. "However, I believe that a Frenchman must win the Ballon d'Or ". That's all I hope for anyway, because there are many who deserve it. "I do not put myself in", Pogba said according to Goal.

Taylor Swift, Cardi B set for American Music Awards
For a lot of us, we may never find a candidate or party with whom we agree 100% on every issue, but we have to vote anyway. She posted support on her Instagram page - with its 112 million followers - for Senate candidate Phil Bredesen and U.S.

Bulgarian journalist allegedly raped and murdered, police detain suspect
The country's Interior Minister, Mladen Marinov, said the suspect was a DNA match for evidence recovered at the crime scene. She is the third investigative journalist to be killed in the European Union in the past 12 months, UNESCO regretted.

In response, officials have pledged to pump billions of dollars into infrastructure projects, shored up the value of the currency and moved to backstop a plunging stock market.

China's economic growth rate slowed slightly to 6.7 per cent in the second quarter year-on-year, still well above the government's full-year target of around 6.5 per cent.

The People's Bank of China (PBOC) on Sunday cut the level of cash that banks must hold as reserves, aimed at lowering financing costs as policy makers worry about fallout from the tariff row with the United States.

Commenting on the central bank's move to tweak the RRR ratio, University of Jinan finance professor Zhao Jian argued that "liquidity is not the issue right now".

Foreigners dumped 9.7 billion yuan (S$1.94 billion) of A shares through exchange links with Hong Kong on Monday, just short of a record hit eight months ago, as mainland markets reopened after a week-long break.

The United States, Europe and other trading partners say initiatives such as "Made in China 2025", which calls for state-led creation of champions in robotics and other fields, violate Beijing's obligations to open up its market to foreign companies.

It is the fourth time this year the People's Bank of China has cut the reserve ratio, "though this cut was bigger and broader than previous ones" reports the New York Times.

Related news:

Hot News

isis-killer-beheading-video-story-top Google Pixel 3 XL Is Already Selling In Hong Kong Before Launch
Oct 10, 2018 - 17:42
Don't get me wrong: The Pixel 3 XL is a wonderful phone, but it is still a Google phone that I believe is not yet at its best. On the other hand, the 64GB version of the bigger Pixel 3 XL will retail at Rs 83,000 and Rs 92,000 respectively.

isis-killer-beheading-video-story-top Video shows suspects in Saudi writer's disappearance
Oct 10, 2018 - 17:25
But he left Saudi Arabia in 2017, fearing censorship and possible detention at the hands of the Crown Prince Mohammad bin Salman. At 1:14 p.m., Khashoggi is seen walking into the consulate, wearing a dark blazer and light pants .

isis-killer-beheading-video-story-top Microsoft unveils Xbox game streaming plans with Project xCloud coming in 2019
Oct 10, 2018 - 17:06
More than 3,000 games are available on the Xbox One today, and Microsoft is planning to bring even more games to the new project. This could pose a problem, as most games are created to be played using either a controller or a keyboard and mouse config.

isis-killer-beheading-video-story-top Taylor Swift wins big at AMAs and encourages fans to vote
Oct 10, 2018 - 16:25
This was not only the group's first American Music Award nomination, but it is also now their first award from this show. The all-time leader is Michael Jackson , who had 24 AMA wins before his death in 2009.

isis-killer-beheading-video-story-top East Texas health officials say get your flu shot
Oct 10, 2018 - 14:28
Getting back into the flu shot specifically, there's already plenty of skepticism surrounding this one form of vaccination alone. He said babies exposed to the flu are at higher risk of being born prematurely or being born at a low birth weight.

isis-killer-beheading-video-story-top Turkish Investigators to Search Saudi Consulate in Disappearance of Saudi Journalist
Oct 10, 2018 - 13:48
Turkish employees of the residence had unexpectedly been told not to report for work that day, the newspaper said. The planes are owned by Riyadh-based Sky Prime Aviation Services, according to public records.

isis-killer-beheading-video-story-top Google+ Shutting Down After Bug Leaks Info of 500k Accounts
Oct 10, 2018 - 13:30
It opted not to report it, "in part because of fears that doing so would draw regulatory scrutiny and cause reputational damage". The company is henceforth shutting down Google+ to consumers.

isis-killer-beheading-video-story-top #WorldMentalHealthDay: Are we doing enough to assist young people?
Oct 10, 2018 - 12:27
Here are some statistics that give you an idea of just how prevalent mental health conditions are among the Australian population. It's fantastic that as a result of the campaign more people are checking in on someone who they think may not be going so well .

isis-killer-beheading-video-story-top Google Pixel Slate hands-on
Oct 10, 2018 - 11:09
One of the major disappoints of the new Google Home Hub, however, is the omission of a camera for Google Duo video calls. Plenty of details about the new smartphones have appeared online, although Google has sought to poke fun at the rumours.

isis-killer-beheading-video-story-top New footage reveals why Khabib's team attacked McGregor
Oct 10, 2018 - 10:43
The men jumped into the Octagon and swung at McGregor, and were subsequently arrested following the insane melee. After McGregor tapped, referee Herb Dean had to restrain Nurmagomedov and push him away from McGregor.

The Cure And Radiohead Nominated For Rock ’N’ Roll Hall Of Fame
Oct 10, 2018 - 10:40
The Rock & Roll Hall Of Fame has revealed its shortlist for 2019, with fans being urged to vote for their favourites. Artists who are not selected for induction one year may be nominated again another year.

isis-killer-beheading-video-story-top India vs West Indies live scores first Test day three
Oct 10, 2018 - 10:15
Tail-ender Keemo Paul , in only his second Test, bludgeoned a four and a six in an unbeaten 13 to see West Indies to the close. Deciding to bowl Kuldeep Yadav in the second test despite Ashwin running riot is a positive sign in Kohli in the captain.

isis-killer-beheading-video-story-top Caroline Wozniacki wins in Beijing
Oct 10, 2018 - 09:33
The victory was Wozniacki's second title in Beijing. "I'm just happy to have reached 30 today, I'm going to enjoy that", said Wozniacki.

isis-killer-beheading-video-story-top Microsoft Explains Why Windows 10’s October 2018 Update Was Deleting People’s Files
Oct 10, 2018 - 08:58
The user used an early version of the OneDrive client and used the OneDrive settings to turn on the Auto save feature. Today, the firm is rolling out a new build 17763.17 to the Slow and Release Preview rings of the Insider Program.

isis-killer-beheading-video-story-top ANC and opposition parties welcome Mboweni, praise Nene
Oct 10, 2018 - 08:28
He previously served as minister of finance from May 25, 2014, until his controversial removal by former President Jacob Zuma on December 9, 2015.