China's central bank lowered the amount of foreign exchange that banks maintain as reserves, in an attempt to combat the weakness of the yuan, after unveiling measures to revive the property market this week.
Also on Friday, major banks in China lowered the interest rates on yuan deposits of various maturities by 10-20 basis points. This is expected to make room for further reduction in lending rates that could boost the property market.
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Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.