October 23, 2015 / 11:48 AM / 4 years ago

China cuts reserve ratio again in fourth reduction this year

BEIJING, Oct 23 (Reuters) - China’s central bank on Friday cut the reserve requirement ratio (RRR) for all banks, for the fourth time this year, while also lowering the interest rate, in a bid to lift a sagging economy.

The People’s Bank of China said it would cut the RRR by 50 basis points for all banks, taking the ratio to 17.5 percent for the country’s biggest lenders.

China has pursued its most aggressive policy easing cycle this year since the 2008/09 global financial crisis, as policymakers seek to invigorate an economy beset by weak demand and excessive industrial capacity. (Reporting by Koh Gui Qing; Editing by Clarence Fernandez)

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