China banks weigh trimming deposit rates as early as this week, Bloomberg News reports By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 15 2024
0mins
Source: Investing.com
Interest Rate Cuts by Chinese Banks: Chinese banks are expected to reduce rates on 300 trillion yuan of deposits, with major banks like Industrial & Commercial Bank of China and China Construction Bank following the central bank's guidance.
Specific Rate Reductions: One-year time deposit rates may decrease by at least 20 basis points, while longer-term deposit rates could fall by at least 25 basis points.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
