The Chinese central bank ordered
banks to increased their reserve for the fourth time this year, increasing the reserve ratio from 16% to 16.5%.
The increase will remove around $30 billion from the Chinese banking system.
The reserve ratio has been raised a 7.5% since the start of 2007.
Funny, the communist central bankers seem to know more about fighting inflation than
the guys at the U.S. Federal Reserve.
