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n the spring of 2007, the Chinese central bank, The People's Bank of China, announced an increase in the reserve requirement for the country's banks.
n the spring of 2007, the Chinese central bank, The People's Bank of China, announced an increase in the reserve requirement for the country's banks. This was the seventh such increase in less than a year. During this same period, the Chinese economy was growing at over 11% per year.
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Question 9
5pts
5a.Based on what you learned about monetary policy in lecture, explain why the People's Bank took this action.
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