China cuts bank reserve requirements ratios by 50 basis points

China has cut the amount of cash that banks must set aside
as reserves for the third time in about five months, to support the
slowdown in economy.

Reserve ratios will fall 50 basis points, effective May 18,
the People's Bank of China said on its website today. The level
for the nation's largest lenders will decline to 20% based on previous
statements.