Chinese domestic interest rates falling – PBoC official
Key money market rates falling, says PBoC official, and bank will try to boost credit for SMEs
China’s domestic interest rates have been falling during the last 12 months, despite the lack of policy rate cuts, a People’s Bank of China official said.
Sun Guofeng, head of the monetary policy department of the PBoC, said the seven-day interbank repo rate was 45 basis points lower year-on-year at the end of June. The interbank repo rate, a key Chinese money market rate, had fallen to 2.56%, Sun told reporters on July 12.
Chinese authorities intend to further reduce real interest rates for
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