Central Bank of China will Lower the Benchmark Interest of Deposit $ Loan and De
[2009-01-07 10:13:54]
Central Bank of China will Lower the Benchmark Interest of Deposit $ Loan and Deposit-Reserve Ratio
For the Implementation of Moderate Looser Monetary Policies, the People's Bank of China Makes the Following Decisions:
From December 23, 2008, benchmark interest rates of deposited RMB in one-year term lowers 0.27 percentage point and beanchmark interest rates of deposit & loan in other terms also makes a adjustment accordingly. At the same time, the Central Bank of China will lower the interest rate of reloan and rediscount.
From December 25, 2008, deposit-reserve ratio of RMB in financial institutions will be cut by 0.5 percentage points.
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