China Asks Lenders to Cut Deposit Rates in Bid to Boost Growth

China's biggest banks are lowering deposit rates for the second time in less than a year to boost the economy. Bloomberg's Valerie Titel highlights this as a significant move, suggesting more official rate cuts may follow. State-owned lenders have been advised to cut rates on various deposit products, with adjustments expected soon. The last rate cut was in September, and the market anticipates potential impacts on the loan prime rate, with the next announcement due on June 19th.

What might the market assume regarding the upcoming rate adjustments?

When is the next announcement regarding the loan prime rate expected?