THE central bank announced yesterday to cut the reserve requirement ratio (RRR) for all banks by 100 basis points starting today, the second reduction in two months, as it steps up measures to boost bank lending and combat slowing growth.

    An extra 1-percentage RRR cut was given to commercial banks for agricultural services and an additional reduction of 2 percentage points to the Agricultural Development Bank of China. The central bank also further lowered RRR by 0.5 percentage point for eligible banks that lend a certain amount of loans to agricultural borrowers or small and micro businesses.

    (Xinhua)