Governor Yi Gang confirmed the People's Bank of China is considering scrapping its official benchmark lending rates. Photo: Xinhua
China mulls scrapping benchmark lending rates in line with market conditions in latest reform move
- People’s Bank of China weigh further interest rate liberalisation in the midst of the trade war with the United States
- PBOC governor Yi Gang also expresses confidence that the central bank can keep the yuan’s exchange rate relatively stable ‘at a reasonable and balanced level’
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China economy
Governor Yi Gang confirmed the People's Bank of China is considering scrapping its official benchmark lending rates. Photo: Xinhua