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BOC To Cut RMB Deposit Rates Starting Today
Recommend 19 Positive 35 Negative 8 |
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Following the announcements by ICBC (01398.HK)(601398.SH), CCB (00939.HK)(601939.SH), and CM BANK (03968.HK)(600036.SH), BANK OF CHINA (03988.HK)(601988.SH) also announced that it will lower RMB deposit rates starting today (20th). The interest rate for demand deposits will be trimmed by 5 basis points to 0.05%. Fixed-term deposits for three months, six months, one year, and two years will all be reduced by 15 basis points, to 0.65%, 0.85%, 0.95%, and 1.05% respectively. The rates for three-year and five-year terms will be both cut by 25 basis points, to 1.25% and 1.3% respectively. AASTOCKS Financial News Website: www.aastocks.com |
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