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China’s deposit interest rates are currently about 1% – 2% and lending interest rates are about 4% – 5%, said the People’s Bank of China in an article published on Tuesday.
China’s real interest rate is slightly lower than the real potential economic growth and is at a reasonable level, which is a optimal strategy with reserved policy room, it said.
Currently, China’s monetary policy targets including economic growth, price levels, employment and international balance of payments are all operating within a reasonable range, which reflects that interest rates are largely within a reasonable range, said the central bank.
The PBOC said it will continue to deepen the market-oriented reforms of interest rates; step up regulations on deposit interest rate; let market-oriented adjustment to deposit interest rate fully play its role; and improve the mechanism for interest rate formation and transmission, it said.
The central bank will optimize the central bank’s policy rate system; optimize allocation of financial resources; and create a good environment for high-quality economic development, according to the article.
China’s deposit interest rates are currently about 1% – 2% and lending interest rates are about 4% – 5%, said the People’s Bank of China in an article published on Tuesday.
China’s real interest rate is slightly lower than the real potential economic growth and is at a reasonable level, which is a optimal strategy with reserved policy room, it said.
Currently, China’s monetary policy targets including economic growth, price levels, employment and international balance of payments are all operating within a reasonable range, which reflects that interest rates are largely within a reasonable range, said the central bank.
The PBOC said it will continue to deepen the market-oriented reforms of interest rates; step up regulations on deposit interest rate; let market-oriented adjustment to deposit interest rate fully play its role; and improve the mechanism for interest rate formation and transmission, it said.
The central bank will optimize the central bank’s policy rate system; optimize allocation of financial resources; and create a good environment for high-quality economic development, according to the article.