More Chinese banks cut rates | Forexlive

Last week we had state-owned commercial banks cutting rates:

• More Chinese banks cut rates
• Industrial and Commercial Bank of China cuts yuan deposit rates

The state banks are:

• Industrial & Commercial Bank of China (ICBC), China Construction Bank (CCB), Bank of China (BoC), Bank of Communications (BoCom), and the Agricultural Bank of China (ABC)
• policymaking banks include the Agricultural Development Bank of China (ADBC), the China Development Bank (CDB), and the Export-Import Bank of China

Non-state banks cut rates today. Joint-stock commercial banks cut deposit rates today.

Banks including China Merchants Bank,
China Citic Bank and China Minsheng Banking
Corp

• cut rates on demand deposits by 5 basis
  points to 0.2%
• cut rates on two-year time deposits by 10 bp
• cut three-year and five-year time deposits by 15 bp

Later this week we have rate setting from the PBOC, a cut is looking likely: