China's central bank announced the cut on one-year deposit and lending interest rates 0.27%

People's Bank of China decided to cut financial institutions in the benchmark interest rate of RMB deposits and loans

People's Bank of China decided on October 30, 2008 from financial institutions to cut the benchmark interest rate of RMB deposits and loans, one-year deposit interest rate from the current 3.87 percent down to 3.60 percent, down 0.27 percentage points; one-year benchmark lending rate by The current 6.93 percent down to 6.66 percent, down 0.27 percentage points; other grade deposit, loan interest rate adjusted accordingly. Personal housing accumulation fund loan interest rates unchanged.

RMB deposits and loans of financial institutions to adjust the benchmark interest rate table

:%

Before the interest rate adjustment

After the adjustment of interest rates

Adjustment

First, deposits and units in urban and rural residents

(A) demand deposits

0.72

0.72

0

(B) Lump-sum deposits

Three months

3.15

2.88

-0.27

Six months

3.51

3.24

-0.27

A year

3.87

3.6

-0.27

2002

4.41

4.14

-0.27

Three years

5.13

4.77

-0.36

Five years

5.58

5.13

-0.45

Second, the loan

Six months

6.12

6.03

-0.09

A year

6.93

6.66

-0.27

One to three years

7.02

6.75

-0.27

Three to five years

7.29

7.02

-0.27

More than five years

7.47

7.2

-0.27

Third, personal housing accumulation fund loans

The following five years (including five)

4.05

4.05

0

More than five years

4.59

4.59

0