PBOC in talks to cut bank deposit rate to savers - report

Author: Justin Low | Category: Central Banks

FT reports on the matter

The report says that the PBOC may announce a deposit rate cut in the coming days, in a bid to help banks squeeze out higher profits since they are enlisted to help spur the economic recovery following the virus outbreak in the country.

This will mark the first cut on the deposit rate since 2015. The full report can be found here.
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