KPMG report: it is expected that there is still room for a reduction in deposit interest rates this year.

[KPMG report: it is expected that there is still some room for a reduction in deposit interest rates this year]-according to the "2023 China Banking Survey report" recently released by KPMG China, the rise in deposit interest rates has increased the debt costs of banks and squeezed profits, which is not conducive to the sound operation of banks. Under the guidance of policy and the pressure of its own operation, commercial banks have experienced two rounds of downward adjustment of deposit interest rates in April and September-October in 2022. Since the beginning of this year, many banks have cut deposit interest rates, and it is expected that there is still some room for reduction in deposit interest rates this year.