Question: 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

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." What monetary policy tool was the People's Bank of China using? In what sense did this policy change "free up cash"? What was the People's Bank of China hoping the result of this policy action would be?

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