Bank of China has cut rates on some yuan deposits (NOT PBOC!)

Bank of China is a commercial bank.

• its cutting interest rates on some of its yuan deposit products
• from December 22 (i.e. today)

BoC are not the only bank in China cutting rates.

The Industrial and Commercial Bank of China (ICBC) is lowering deposit rates:

• 1.45% for 1yr deposits (from 1.55%)
• 1.65% on 2yr deposits (from 1.85%)
• 1.95% on 3yr (from 2.2%)
• 2% on 5yr (from 2.25%)