BOC cuts standard savings rate to 1.5%

Bank of China has lowered its standard savings interest rate from 1.75% to 1.5%. According to the bank's structure of tiered interest rates, savings accounts with HK$10,000 or above balances will now receive an interest rate of 1.5%, those with HK$3,000-HK$10,000 balances will receive an adjusted interest rate of 0.5% instead of 0.75%, and those with balances below HK$3,000 will have their rate remained at 0.25%.

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