- The cut in reserve is aimed at stimulating growth and allowing rural banks more cash for lending, however the statement refrained from saying how much the level will change.
Analysis details (00:29)
- This reserve cut is not expected to have a major impact on the economy as it will not impact banks in urban areas but qualifying rural banks will likely have more cash available as a result of the move.
17 Apr 2014 - 00:26 - Forex - Source: WSJ
RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: