Trial now

Support Level Draws Near For USD/SGD


NZD Jumps As Rate Hike Expectations Accelerate


Futures Unchanged Overnight, Rinban Eyed

Sign up now for free access to this content.

Please enter your details below and select your areas of interest.

Chinese banks cut interest rates of large deposit certificates as a new pricing mechanism for lenders' deposits introduced took hold, the Shanghai Securities News reported. Deposits bearing relatively high rates will likely see rates decline, helping reduce banks' costs and ultimately lower their lending rates, the newspaper cited analysts as saying. The new mechanism adds a basis points differential on the benchmark interest rate, differing from the previous that was percentage-based, the newspaper said.