Chinese state banks will cut deposit rates on Tuesday

Chinese state banks will cut deposit rate on Tuesday according to Reuters.

Recall the PBoC cut rates on May 7:

• Cut Reserve requirement ratio by 50 basis points
• Cut the policy interest rate by 10bps
• Cut standing lending facility rate by 10 basis points

Along with other rates

This article was written by Greg Michalowski at www.forexlive.com.