China Cuts Dollar Deposit Rates to Boost Yuan Stability

February 28, 2025

Catenaa, Friday, February 28, 2025-The People’s Bank of China (PBOC) have asked China’s banks to cut interest rates offered on U.S. dollar deposits to curtail dollar hoarding and prop up a weakening yuan, a report by Reuters said on Friday. Quoting two banking sources, the Reuters report said that over the past few weeks banks across China […]