pboc decision, 2004-07-02
In view of the limitations of open market operations as a regular, short-term and flexible tool in sterilizing the persistent growth of money resulted from foreign exchange purchase, the PBC, with the consent of the State Council, decided to raise required reserve ratio by 0.5 percentage points from 7 percent to 7.5 percent effective on April 25, 2004.
Sentiment: reserve_tight
Topic: mp_interest_rate