The People’s Bank of China overhauls its interest-rate mechanism to help businesses grappling with a cooling economy
Banks will use the Loan Prime Rate, which is based on real-world bank lending prices, to price new loansBEIJING—China’s central bank on Saturday unveiled a long-awaited reform to its interest-rate mechanism, a move aimed at reducing financing costs for businesses struggling with a cooling economy.
The People’s Bank of China said in a statement Saturday that it would replace existing benchmark interest rates with the Loan Prime Rate, which is based on real-world bank lending prices, as a reference for banks in pricing new loans.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Political talks, central bank plan lift Argentina markets after grim routArgentine markets on Thursday bucked a dismal three-day losing streak on signs o...
Read more »
Mexico's central bank cuts rates for first time in 5 years as economy sputtersMexico's central bank on Thursday cut its key lending rate for the first ti...
Read more »
The European Central Bank criticized financial institutions for not preparing for Brexit quickly enoughThe ECB criticized banks for preparing for Brexit too slowly — highlighting just how severe the complications of a no-deal Brexit could be.
Read more »
Mexico central bank governor says core inflation a 'challenge'Mexican central bank Governor Alejandro Diaz de Leon sees core inflation as a &...
Read more »
Argentina central bank faces peso test ahead of fraught electionArgentina's central bank will have to toe a politically fraught line betwee...
Read more »
Argentina central bank faces peso test ahead of October electionArgentina's central bank must toe a politically fraught line between suppor...
Read more »