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Several State-owned Banks Cut Deposit Rates - Securities Times

CHINA PRESS
MNI (BEIJING)

Several state-owned banks have lowered their deposit interest rates, according to unnamed sources in the Securities Times. Some banks have cut yuan deposit rates by 5-10bp, and US dollar one-year rates to 4.3% from 5.0%, the paper said. Zou Lan, director of the Monetary Policy Department at the People's Bank of China recently stated commercial banks could adjust deposit interest rates based on market dynamics and their operating conditions. (Source: Securities Times)

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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