China’s central bank cut the amount of cash most banks must hold in reserve in order to boost lending

Summary:
More “banks lend out the reserves!” belief… i.e. cognitive reification of Accounting abstractions… this is ofc not unique to USD zombie China…China’s central bank cut the amount of cash most banks must hold in reserve in order to boost lending in the economy as growth starts to wane https://t.co/624rGOniv6— Bloomberg Markets (@markets) July 9, 2021

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