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Industrial and Commercial Bank of China cuts yuan deposit rates

Industrial and Commercial Bank of China cuts yuan deposit rates

Industrial and Commercial Bank of China (ICBC) along with AgBank have cut yuan deposit rates.

ICBC cuts 2 year yuan deposit rate to 2.05%

  • cuts 5 year to 2.45%
  • cuts 10 year to 2.5%

Stimulus from China. I posted on ‘requests’ from Chinese authorities to cut rates yesterday:

But there is some head-kicking going on:

Note: ‘calls on’ and ‘asks’ means getting a kick in the head in China.

CNH not a lot moved, it moved sharply overnight:

eur

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

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