China central bank says reserve rate cut announced earlier to be effective Jan 25

Jan 25@

BEIJING, Jan 17 (Reuters) - The reduction, announced last September, in the amount of cash some Chinese banks must hold as reserves will become effective on January 25, the People's Bank of China said on its official account on China's Twitter-like Weibo on Wednesday.

When the targeted reserve rate cut was announced on Sept. 30 its implementation date was initially only given as 2018. (Reporting by Beijing Monitoring Desk; Editing by Simon Cameron-Moore)