The People's Bank of China (PBOC) lowered its new lending reference rate slightly on Tuesday in its first announcement after launching the reform to Loan Prime Rate (LPR) mechanism on Saturday, part of its effort to bring down real interest rates for the corporate sector through market-oriented reforms.
The PBOC on Saturday designated the LPR, based on rates of open market operations such as interest rates on the medium-term lending facility (MLF), the new lending reference for . . .
To continue reading, please subscribe. You will get
- Original and in-depth reporting with details, data and perspectives you don't read elsewhere
- THE WIRE - a real-time financial news platform focused on China
- Daily Brief newsletter to get you prepared for every trading day
- An indispensable and reliable source of information on China's economy and financial markets
We highly value independence. We are solely funded by subscriptions from thousands of readers like you. Not ready for our full service? Try Free Weekly Newsletter first.
Already have an account? Sign In