ICYMI – China's Industrial Bank cuts yuan deposit rates

<p>Thursday evening news from China:</p><p>China's Industrial Bank says it'll cut its yuan deposit rates by 10-25 basis points, effective from Friday, 1 September 2023.</p><ul><li>one-year deposit rate will be cut by 10 bps to 1.75%</li><li>two-year deposit rate will be cut by 20 bps to 2.00%</li><li>three- and five-year rates will be cut by 25 bps points to 2.25% and 2.30%, respectively</li></ul><p> Industrial Bank is a medium-sized bank in China. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.