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China liberalises bank lending rates in reform push

<!– google_ad_section_start –> China’s central bank announced long-awaited interest rate reforms on Friday, removing controls on the rates banks may charge clients for loans, in a step towards more market-driven pricing of credit. The People’s Bank of China (PBOC) said in a statement on its website that it was removing its floor on lending rates for commercial banks, meaning that banks will now be able to cut rates as much as they see fit to attract borrowers. The central bank said it hoped the move will lower financial costs for companies. <!– google_ad_section_end –>

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China liberalises bank lending rates in reform push

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