An article in the Wall Street Journal reported in 2015 that the People's Bank of China, which is the central bank of China, "is freeing up cash by reducing the amount that banks must keep in reserve." Source: Lingling Wei, "China Central Bank Checks Europe Playbook on Credit," Wall Street Journal, April 19, 2015. The monetary policy tool that the People's Bank of China was using was changes to the A. interest rate. B. volume of bonds. C. required reserve ratio. D. discount rate. This policy change would "free up cash" because A. total deposits would increase. B. reserves that were excess are now required reserves available for lending. O C. total reserves would increase. O D. reserves that were required are now excess reserves available for lending. The People's Bank of China was hoping this policy action would A. stimulate economic growth. B. lower the inflation rate. C. increase interest rate income for investors. D. expand the banking sector. O000