On Breakingviews – China’s rate reform inches along the market path, says cbeddor
A customer counts Chinese Yuan notes at a market in Beijing, August 12, 2015. China shocked global markets on Tuesday by devaluing its currency after a run of poor economic data, a move it billed as a free-market reform but which some experts suspect could be the beginning of a longer-term slide in the exchange rate. REUTERS/Jason Lee
The People’s Bank of China has in recent months seemed frustrated: despite efforts to nudge down what institutions like Bank of Communications and China Merchants Bank pay for funds, average loan rates declined only modestly. Part of the problem seemed to be that lenders continued to use an old benchmark lending rate to price loans – a measure unchanged at 4.35% since 2015 – despite efforts several years ago to move away from it.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China unveils rate reform to steer funding costs lower for firmsChina's central bank unveiled a key interest rate reform on Saturday to hel...
Read more »
China's new lending benchmark to be based on medium-term rates; shares rally on rate cut hopesChina's announcement of key interest rate reforms over the weekend fueled e...
Read more »
China’s Central Bank Reforms Rates to Boost Cheap Funding for BusinessesThe People’s Bank of China unveiled a long-awaited reform to its interest-rate mechanism, a move aimed at reducing financing costs for businesses struggling with a cooling economy.
Read more »
Here are five risks facing the US economyFears of a brewing global recession were renewed this week as markets whipsawed over President Donald Trump's trade war with China as well as disappointing economic data from both Germany and China.
Read more »
Asia stocks gain as China rates tweak lifts investor moodAsian stocks tracked the Wall Street rally on Monday and found an extra tailwind...
Read more »
China's central says new loan benchmark to be based off medium-term liquidityA new benchmark interest rate Chinese banks will need to use to set lending rate...
Read more »