China’s Big Banks Cut Deposit Rates as Growth Plateaus
Dec. 21, 2023 11:05 pm ETChina’s biggest banks are lowering the deposit rates offered to savers, a move that could pave the way for the central bank to make interest-rate cuts to spur economic growth.Five state-owned lenders and joint-stock bank China Merchants Bank said the rate cuts took effect on Friday. The five were Industrial & Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China and Bank of Communications.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
