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2.2 In the spring of 2018, China's central bank, People's Bank of China, announced that it would cut the reserve requirement ratio from 17 percent to 16 percent. This was expected to release 1,300 billion of additional liquidity into the banking system. How large was the monetary base initially?.

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2.2 In the spring of 2018, China's central bank, People's Bank of China, announced that it would cut the reserve requirement ratio from 17 percent to 16 percent. This was expected to release 1,300 billion of additional liquidity into the banking system. How large was the monetary base initially?

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