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The Chinese central bank is considering cutting interest rates on deposits for the first time in five years.
According to ArabiaNet, this step is part of an escalation of steps to support the economy to counter the consequences of the Corona virus.
Sources told the Financial Times that the move aims to boost bank profitability and support lending.
The interest rate on deposits is 1.5%, while the volume of deposits is $ 25 trillion with Chinese banks.
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