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Author Topic: The Bank of China continues to reform interest rates to be more in line with mar  (Read 443 times)

dunger

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The Bank of China continues to reform interest rates to be more in line with market forces.

Liu Guoqiang, deputy governor of the People's Bank of China China's central bank will continue to reform the policy rate and make deposit rates more in line with market mechanisms

The deputy governor of the People's Bank of China said in an article published in China Magazine. Finance of the Bank of China today that The People's Bank of China will improve the benchmark quality of banks used to set the prime customer loan interest rate (LPR), which is comparable to China's policy rate.

In addition, the Bank of China will announce the previous reference level. And it makes commercial banks to make more efforts to qualify for the referral level to the National Bank.

The move is meant to allow the policy interest rate to pass more smoothly to the market interest rates on loans and deposits. in the hope that these interest rates will play a role in the allocation of financial resources and encourage these resources to flow more into small businesses and private companies.

In the last announcement last month, The People's Bank of China (PBOC) kept the one-year loan prime rate (LPR) at 3.85% and the five-year LPR at 4.65%. 17th, in line with market expectations.

The 1-year LPR interest rate is a benchmark for private borrowing rates. The 5-year LPR rate is a measure of the direction of household interest rates. This includes interest rates for mortgage loans.



 

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