More on the China rate cut: The 1-year lending rate is now 6.31%, the 1-year deposit rate is now...

|By:, SA News Editor

More on the China rate cut: The 1-year lending rate is now 6.31%, the 1-year deposit rate is now 3.25%. Another easing move, banks will now be allowed to offer loans at a 20% discount from the benchmark rate, whereas before they were allowed just 10%. (PBOC statement)