China Financial Daily

The Central Bank has cut interest rates drastically for four times
The interest cut widely rumored for several days at last become a reality, which the Central Bank yesterday announced that from now on financial institutions would cut one-year benchmark deposit and lending interest rates by 1.08 percentage point, and the deposit and loan interest rates of other grades adjusted accordingly.

Great cut interest rates increase the country’s determination: security for growth
The Central Bank cut interest rates which was expected in the market, but 1.08 percentage point drop was far beyond expectations. Large commercial banks lowered the rate to adjust the deposit reserve ratio also reflects the decision-making with a view to preventing deflation in the short term and a long-term anti-inflationary intention.

EMC stock: Comments on the reserve ratio and interest rates cut sharply by the Central Bank
Yesterday, the Central Bank cut the rates of benchmark deposit and lending & deposit reserve, also announced to cut the statutory reserve rates and excess reserve rate, as well as refinancing and rediscount rate. The benchmark deposit and loan interest rates will start from Nov. 27 with down 1.08 percentage points, and benchmark interest rate of deposit and loan of other grades will be adjusted accordingly.

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