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Bank of China Slashes Lending and Borrowing Interest Rate
- Filed under: Bank, World Market
- Date: Nov 27,2008
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| Bank of China after a long time may be 11 years or so have cut almost 1 percent in both lending and also borrowing interest rate, Both have been almost cut by 1.08 percent. So the lending rate stands at 5.58% and one-year deposit rate has dropped to 2.52%. The banks’ reserve requirements has been slashed by 1 percentage point for six big banks and by 2 percentage points for smaller banks. |
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