MOSCOW, October 23. The people’s Bank of China decided to lower since January 24, the loan rate for a period of one year by 0.25 percentage points to 4.35%, according to a statement on the website of the Central Bank of the PRC.
In this case, commercial banks will no longer set the upper limit of the floating interest rates on deposits, said in a statement.
Reserve ratio for financial institutions will be reduced by 50 b.p.
The last time the regulator cut rates at the end of August. The decrease also was 0.25%, in addition, the reserve ratio for financial institutions on 6 September was reduced by 50 b.p.