It is the sixth cut since November 2014 – The yield on one-year loans falls from 4,6 to 4,35%, while the interest rate paid on deposits falls from 1,75 to 1,5%.
The Central Bank of China unexpectedly cut the interest rate on loans and deposits by 25 basis points (0,25%). Beijing also cut its reserve requirement ratio by 50 basis points.
The yield on one-year loans therefore falls from 4,6 to 4,35%, while the interest rate paid on deposits falls from 1,75 to 1,5%. Finally, the central bank removed the cap on deposit rates. For China, this is the sixth cut since November 2014.
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