The People's Bank of China (PBOC), China's central bank, announced Tuesday that the interest rates on petty deposits of major foreign currencies will be lowered from July 2.
The PBOC said that the rates on one-year term US dollar, euro, Hong Kong dollar, sterling and Swiss franc deposits would be lowered by 0.25, 0.625, 0.3125, 0.25 and 0.25 percentage points to 0.5625 percent, 1.25 percent, 0.8125 percent, 2.3125 percent and 0.1875 percent, respectively.
(Xinhua News Agency July 2, 2003)
