The continued strong depositors appetite for savings deposits in part reflected the narrowing of the interest rate spread between the short-term time deposit rate and the savings deposit rate.

存户将资金存放为储蓄存款的显著趋势持续，部分反映短期定期存款与储蓄存款之间的息差收窄的情况。

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Investors are speculating that the central bank may raise the deposit rate to combat the erosion of savings by inflation, according to analyst Chen Jianbo.

投资者猜测央行可能提高存款利率来抵御通货膨胀，援引分析师陈建波的话。

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The benchmark deposit rate, at 3.87%, is below the rate of inflation — meaning households are effectively losing money on bank savings.

目前3.87%的基准存款利率已低于通货膨胀率，这意味着人们将钱存入银行会赔钱。

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But in China, where most savings are in the form of bank deposits and where earnings on savings are a significant portion of total household earnings, lowering deposit rates tends to increase the savings rate.

WSJ: China's Consumption Conundrum

The deposit rate is already at zero, making savings account worthless after inflation.

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