BEIJING: China has announced its first cut in the amount of cash that banks must hold as reserves this year to bolster the economic growth momentum after investment stabilized and consumption rebounded in the first two months.

The People's Bank of China (PBOC), the central bank, said on Friday it would cut the reserve requirement ratio (RRR) by 0.25 percentage point for financial institutions from March 27 to keep liquidity reasonably ample and serve the real economy.

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