Some Chinese state banks, such as Bank of China and Bank of Communications, will cut deposit rate ceilings on Monday, joining smaller lenders, sources told Reuters.
Register now for FREE unlimited access to Reuters.comBank of China and Bank of Communications were not immediately reachable for comment outside working hours.
Beijing has repeatedly urged banks to reduce borrowing costs for smaller companies in an economy hit by COVID-19 outbreaks, fallout from the Ukraine crisis, and capital outflows triggered by U.S. monetary tightening. "One major reason banks are reluctant to cut loan rates now, is that the move would hurt their margins."
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
USD/CNY could reach the 6.70 level if PBoC triggers further rate cuts – SocGenThe People’s Bank of China (PBoC) appears reluctant to trigger further headline policy rate cuts. However, when most lockdowns are lifted, the central
Leer más »
Tuition increases at every public university but JSUEvery public university but Jackson State University will raise tuition rates this coming school year, continuing a trend that puts the cost of college increasingly out of reach for the average family in Mississippi.
Leer más »
BTC Plunges Below $40k As Ukraine Prohibits The Purchase Of Bitcoin Using Local CurrencyThe central bank classifies bitcoin buys as “quasi cash transactions” along with electronic wallets deposits, creating brokerage or FX accounts, and travel payments.
Leer más »
Road work to affect state Routes 15 and 147 traffic north of Harrisburg region starting MondayRoute 15 will be down to one lane in each direction south of Winfield while there will be single-lane conditions on Route 147 in the Herndon area.
Leer más »
Chinese media promote Kremlin claims that Bucha massacre was fakedChinese state media are promoting allegations that the Ukrainians staged the mass graves in Bucha, the latest in the Asian nation's furtherance of Russian propaganda about the Ukrainian invasion.
Leer más »
India govt to sell 3.5% stake in Life Insurance Corp -sourcesThe Indian government is looking to sell a 3.5% stake in state-owned insurance behemoth Life Insurance Corporation of India (LIC), a senior government and banking source told Reuters on Saturday.
Leer más »