12-07-2013, 10:00 PM
A step toward "free" capital market...
China may scrap floor for bank lending rates
SHANGHAI – China may scrap the official floor under banks’ lending rates as the first major step to liberalise its interest rate regime, the official China Securities Journal reported on Friday, as regulators signal for accelerated reforms to cope with distorted capital flows and slowing economic growth.
“Plans for promoting interest rate liberalisation have already been drafted,” the report said.
“Industry sources forecast that the floor for lending rates will be scrapped.”
The official mandated lending rate currently stands at 6 per cent.
http://www.todayonline.com/business/chin...ding-rates
China may scrap floor for bank lending rates
SHANGHAI – China may scrap the official floor under banks’ lending rates as the first major step to liberalise its interest rate regime, the official China Securities Journal reported on Friday, as regulators signal for accelerated reforms to cope with distorted capital flows and slowing economic growth.
“Plans for promoting interest rate liberalisation have already been drafted,” the report said.
“Industry sources forecast that the floor for lending rates will be scrapped.”
The official mandated lending rate currently stands at 6 per cent.
http://www.todayonline.com/business/chin...ding-rates
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