China's Big Banks Adjust Deposit Rates, Indicating a Move Towards Policy Easing

China's Big Banks Adjust Deposit Rates, Indicating a Move Towards Policy Easing
Image by David Peterson from Pixabay

China’s biggest state-owned banks are slashing deposit rates again, fueling expectations this will create more wiggle room for the central bank to cut lending rates early next year.

Five major banks including the Industrial & Commercial Bank of China Ltd. and China Construction Bank Corp. lowered the rates for a slew of products including time deposits on Friday.

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