Starting October 18, major banks in many countries will once again lower listed interest rates for RMB deposits. This reduction in deposit interest rates covers various categories such as current and fixed term deposits. An employee of a major bank in the eastern province revealed to reporters that the bank will cut the interest rate on demand deposits by 5 bp to 0.1% and the interest rate on time deposits by 25 bps. Other major bankers added that their bank's listed interest rates for major term deposits, such as three-month, one-year, and three-year terms, were all lowered by 25 bps, and interest rates on 7-day notice deposits dropped by 25 bps. The reporter compared and found that compared with the previous round of cuts in July, this time deposit listing interest rate was cut even more. The last round of time deposit listing interest rates were reduced by 10 bps and 20 bps depending on the term.

Starting October 18, major banks in many countries will once again lower listed interest rates for RMB deposits. This reduction in deposit interest rates covers various categories such as current and fixed term deposits. An employee of a major bank in the eastern province revealed to reporters that the bank will cut the interest rate on demand deposits by 5 bp to 0.1% and the interest rate on time deposits by 25 bps. Other major bankers added that their bank's listed interest rates for major term deposits, such as three-month, one-year, and three-year terms, were all lowered by 25 bps, and interest rates on 7-day notice deposits dropped by 25 bps. The reporter compared and found that compared with the previous round of cuts in July, this time deposit listing interest rate was cut even more. The last round of time deposit listing interest rates were reduced by 10 bps and 20 bps depending on the term.