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Industrial and Commercial Bank of China cuts yuan deposit rates
Industrial and Commercial Bank of China (ICBC) along with AgBank have cut yuan deposit rates. ICBC cuts 2 year yuan deposit rate to 2.05%cuts 5 year to 2.45%cuts 10 year to 2.5%Stimulus from China. I posted on 'requests' from Chinese authorities to cut rates yesterday:But there is some head-kicking going on:China calls on biggest banks to cut deposit rates to bolster the economyChina regulator reportedly asks major state-owned banks to lower dollar deposit ratesPressure on the People's Bank of C...
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Posted: Jun 8 2023, 00:00
Author Name: forexlive
Views: 111229