China cuts reserve requirement again to support growth

China's central bank on Saturday cut the reserve requirement ratio for certain banks by 50 basis points, a third reduction in nearly 5 months, as it seeks to spur bank lending and combat slowing economic growth. In a statement on its website, the People's Bank of China said it would cut rates for banks serving the country's farm sector and those that lend to small and medium-sized enterprises, adding that the reduction would take effect on Sunday. The People's Bank of China last cut the reserve