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PBOC hikes banks' reserve requirement by 0.5%

PBOC hikes banks' reserve requirement by 0.5% (by Chris Oliver)

HONG KONG (MarketWatch) -- China's central bank lifted the ratio of deposits banks must set aside as reserves by 0.5-percentage point, marking the third such tightening this year, as it seeks to tighten liquidity to help curb inflation. The nation's biggest banks must set aside 20% of deposits as reserves with the central bank from March 25, according to newswire reports that cited a statement by the People's Bank of China released early evening.