Chinese bank (one of the world’s largest banks) cuts time deposit rates

Bank of China have announced a 10bps-20bps cut in time deposit rates.

Cuts begin today.

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About that awkward headline. No doubt someone will confuse this for a PBOC rate cut. It is not. The PBOC did cut rates, and dropped in other easing measures, on Monday:

• ForexLive Asia-Pacific FX news wrap: A series of easings from the People’s Bank of China

This article was written by Eamonn Sheridan at www.forexlive.com.