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China instructs commercial banks to stop offering interest rates on deposits

China instructs commercial banks to stop offering interest rates on deposits

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Arno V Venter
10/04/2024 | 10:42 GMT
  • These are for deposits above the deposit rate ceiling
  • China instructs commercial banks to stop offering interest rates on deposits above deposit rate ceiling
  • China instructs banks to complete rectification of excessive high-yield deposits before end-April
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