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Case builds for China's banks to cut deposit rates

A piece from Reuters citing various sources, some unnamed. Last week the People's Bank of China left its key indicative mortgage rate, the 5 year LPR unchanged, against widespread expectations of a cut:PBOC Loan Prime Rates (LPR) CUT: 1-year 3.45% (prior 3.55%) & 5 year 4.2% (prior 4.20%)Despite leaving the 5yr untouched, China's banks will cut deposit rates soon as part of efforts to make mortgages more affordable and revive property demand say analysts cited by Reuters. China did not opt for a... Read More

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Posted: Aug 27 2023, 23:39

Author Name: forexlive

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