Monday February 29, 2016

// February 29th, 2016 // Daily News

China central bank cuts reserve requirement ratio by 0.5 percentage points
CNBC.com

The People’s Bank Of China (PBOC) headquarters stand at night in the financial district of Beijing, China.
Tomohiro Ohsumi | Bloomberg via Getty Images
The People’s Bank Of China (PBOC) headquarters stand at night in the financial district of Beijing, China.
China’s central bank, the People’s Bank of China, has cut further the reserve requirement ratio, the amount of cash the country’s banks have to hold, in an attempt to calm investor jitters over the world’s second largest economy.
The PBOC cut the ratio by 0.5 percentage points after the country’s markets closed Monday. The cut, which comes into effect Tuesday, means that most large Chinese banks will have a reserve ratio of 17 percent, Reuters reported.
Asia shares mostly lower, Shanghai off 2.9%, Nikkei down 1%
This is the fifth time since last February that the PBoC has cut its ratio, the last cut being on October 23.
China’s stock markets had another torrid day Monday: The Shanghai composite pared some losses to close down 79.38 points, or 2.87 percent, at 2,687.82 points, after earlier trading down as much as 4.63 percent. The Shenzhen composite slid 93.18 points, or 5.36 percent to 1,643.35 points.
Latest government figures show that the Chinese economic growth rate slowed to a 25-year low of 6.9 percent in 2015 and 6.8 percent in the fourth quarter of last year.
In a statement reported by Reuters, the PBOC said the move was made to ensure ample supply of liquidity in the system.
Saheli Roy Choudhury contributed to this report.
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Today’s Inspiration

A Spiritual Sabbath

by Joyce Meyer – posted February 29, 2016

Let us therefore be zealous and exert ourselves and strive diligently to enter that rest [of God, to know and experience it for ourselves], that no one may fall or perish by the same kind of unbelief and disobedience [into which those in the wilderness fell].
—Hebrews 4:11

If you read the entire fourth chapter of the book of Hebrews, you will find it speaking about a Sabbath rest that is available to God’s people. Under the Old Covenant, the Sabbath was observed as a day of rest. Under the New Covenant, this Sabbath rest spoken of is a spiritual place of rest. It is the privilege of every believer to refuse to worry or have anxiety. As a believer, you can enter the rest of God.

The only way to enter that rest is through believing. You will forfeit it through unbelief and disobedience. Unbelief will keep you in the wilderness, but Jesus has provided a permanent place of rest that can be inhabited exclusively through living by faith.

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