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China has no plans to lower interest rates for yuan deposits at present, the central bank said yesterday on its official Website.
The announcement dampened analysts' expectations of an imminent rate cut. Dai Xianglong, governor of the People's Bank of China, was quoted by the Website as saying the current interest rates for the local currency are proper. Now, the one-year benchmark interest rate for yuan in domestic banks is 2.25 percent.
(eastday.com December 11, 2001)
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