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01-28-12

BEIJING - China has raised reserve requirements for six large commercial banks on a temporary basis, a move to drain cash from the economy but avoid over-tightening, Reuters reported on Monday. Julian Edelman Jersey. Related readings: China diversifies foreign reserves basket China starts diversifying forex reserves China may include private holdings in oil reserves Chinas forex reserves reach $2.45 trillion The 50-basis-point increase, which takes required reserve ratios to 17.5 percent for the countrys biggest lenders, is the first since May this year. The rise will be in place for two months before ratios are returned to their current levels, Reuters quoted sources as saying. In the limited nature of the increase, the central bank is trying to strike a balance between controlling liquidity and maintaining flexibility lest the economy lose momentum. The Peoples Bank of China, the central bank, declined to comment. Xu Biao, an economist with China Merchants Bank in Shenzhen, said that the central bank was worried that capital inflows could be on the rise in the wake of broader dollar weakness. The central bank has to take some pre-emptive moves to control asset prices and inflation risks, he said. On the other hand, the targeted and temporary move itself shows that the central bank is cautious about taking tightening steps. In other words, the central bank is reluctant to make any blanket tightening moves, Xu added. Qing Wang, chief China economist at Morgan Stanley in Hong Kong, said the reserve increase also suggests that bank lending is on the rise again after a year in which Beijing has clamped down on their issuance of credit. I suspect September loan growth was strong. Hot money inflows have been rising. But I dont think this is a tightening move. Its just part of liquidity management, he said. Its also good for managing inflation expectations. BenJarvus Green-Ellis Jersey Pink. - The Prince Albert Raiders ended their season with an 8-3 win over the Saskatoon Blades in Western Hockey League action Saturday night. Eli Manning Authentic Jersey. It takes around ten days to send a postcard to my friends on the mainland, but on Internet, our communication is in real time, Lin says. He has been regularly in touch with friends he got to know at a week-long summer camp in Beijing last August, through social networking websites and chat applications. Rob Gronkowski Womens Jersey. Justine Henin Maria Sharapova The Russian was given a 7-6 6-3 6-1 thrashing by 14th-seeded compatriot Mikhail Youzhny. Jason Pierre-Paul Jersey. Its a game that you can catch on Wendys Friday Night Football on TSN starting at 8:30pm et/5:30pm pt. The game is also available on TSNHD. As well you can catch live streaming and participate in a live chat on TSN.

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