China cuts Reserve Ratio Rate by 0.50% – AUD/USD positive

The People's Bank fo China (PBOC) has announced a cut in its Reserve Requirement Ratio (RRR) of 0.50% from Monday, September 16. 

The move will allow banks to lend more and stimulate the world's second-largest economy and positively impact other economies.

China's action may boost stock markets and commodity currencies such as the Australian dollar.