Large Chinese banks reportedly to cut deposit rates on Friday ...Middle East

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Large Chinese banks reportedly to cut deposit rates on Friday
The rates for 1-year or less tenure will be reduced by 10 bps to 1.45%. Meanwhile, 2-year rates will be cut by 20 bps to 1.65%, 3-year rates cut by 25 bps to 1.95%, and 5-year rates cut by 25 bps to 2.00%. All of this is to ease pressure on bank profits as an effort for lenders to lower mortgage rates and bolster the property sector. This article was written by Justin Low at www.forexlive.com.

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