The cost of interbank borrowing in China hit its highest mark for the year so far as the seven-day repurchase rate averaged 4.41% to date despite two benchmark interest-rate reductions and a lowering of banks’ reserve requirement ratio in the past four months, Bloomberg reported. Premier Li Keqiang told reporters Sunday the government would act if growth sags too much and cuts into employment or wages, and a variety of financial firms are now banking on a further cut to the reserve requirement ratio in the coming weeks.
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