China will deepen LPR reforms, make deposit rates market-driven -central bank vice gov

October 8, 2021

BEIJING (Reuters) – China will deepen its loan prime rate (LPR) reforms and gradually make deposit rates market driven, vice central bank governor Liu Guoqiang said in remarks published on Friday.

China will improve market-based interest rate formation and transmission mechanism and improve its interest rate corridor mechanism, Liu wrote in China Finance, a publication under the People’s Bank of China.

(Reporting by Kevin Yao and Beijing Newsroom; Editing by Christopher Cushing)

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