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) - China's central bank has again raised banks' reserve requirements in an attempt to

control the country's booming economy


The People's Bank of China said on Friday that it will raise the reserve requirement ratio for banks, according to the

Wall Street Journal


The reserve ratio will now increase by half a percentage point from Feb. 25, following a

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similar increase earlier this year


After the increase is implemented, major banks will have to keep 16.5% of their deposits on reserve, according to the Journal. The move is seen as an attempt to control lending and prevent a housing bubble in China.

-- Reported by James Rogers in New York

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