China raises reserve requirement

From Xinhua:

China will raise the reserve requirement ratio by half a percentage point to 13 percent for commercial banks from October 25, the People's Bank of China (PBOC) announced on Saturday...

The move came after the central bank's announcement on Friday that the country's foreign exchange reserve has exceeded 1.43 trillion U.S. dollars by the end of September, up 45.1 percent from the same period last year...

By the end of September, the M2 -- a broad measure of money supply, which indicates the monetary demand of the whole country, grew by 18.45 percent from a year ago to 39.31 trillion yuan.