Can't wait, joint-stock commercial banks quickly follow up on "interest rate cuts"
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On October 18, after state-owned banks such as Industrial and Commercial Bank of China lowered the RMB deposit rates, joint-stock banks quickly followed suit. China Merchants Bank and Ping An Bank announced rate adjustments on October 18 and 19, while Everbright Bank and several other joint-stock banks also announced interest rate cuts on October 21, with personal time deposit rates lowered by 25 basis points to 0.85%-1.6%. Most national joint-stock commercial banks have followed suit in lowering interest rates
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