Multiple banks have raised the interest rates for USD time deposits, with some products exceeding 4%

The Federal Reserve's interest rate hike combined with the central bank's increase of the foreign exchange deposit reserve ratio to 6% has led several banks to raise their USD fixed deposit rates again, with some products exceeding 4%.

In October, the average benchmark performance of USD wealth management reached 4.1%. The interest rates of foreign banks have risen significantly, while the listed rates of state-owned banks remain around 2.8%, resulting in an inverted yield curve.