--China's biggest state-owned banks, including Industrial & Commercial Bank of China and China Construction Bank, are mulling lowering deposit rates for the third time in a year to boost the economy and protect margins, Bloomberg reports, citing people familiar with the matter.

--The banks may cut rates on local currency deposits by between five and 20 basis points, according to Bloomberg.

--Regulators have signed off on the plan and may announce it as soon as Friday, Bloomberg reports.


Full story: https://shorturl.at/egst8


Write to Sherry Qin at sherry.qin@wsj.com


(END) Dow Jones Newswires

08-29-23 0545ET