Multiple banks are still at 3%, with possible rate cuts at any time.

The Federal Reserve recently announced a 25 basis point cut in the target range for the federal funds rate, marking the first rate cut since December 2024. A reporter visited several bank branches in Beijing on September 22nd and found that some US dollar deposit rates are still at 3% or higher and have not been reduced yet. However, several bank account managers have indicated that a rate cut "may be coming soon."