Another rate cut hinted an imminent completion of interest rate liberalization
Published on Monday, May 11, 2015 | Updated on Sunday, May 13, 2018
Another rate cut hinted an imminent completion of interest rate liberalization
Summary
The People’s Bank of China (PBoC) cut the benchmark interest rates last Sunday, the third time since November 2014 and effective from May 11. Both the one-year benchmark lending and deposit rates were trimmed by 25 bps (to 5.1% and 2.25% respectively). The PBoC expanded the permissible floating range of customer deposit rates to 50% above the benchmark rates.
Topics
- Topic Tags
- Regional Analysis China
- Macroeconomic Analysis
Authors
Le Xia
BBVA Research - Chief Economist
Jinyue Dong
BBVA Research - Senior Economist
Documents and files
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