China’s Central Bank will lower the benchmark interest rates by 0.25% from March 1
- Details
- Category: Governmental News
- Published: Tuesday, 03 March 2015 09:44
People’s Bank of China has announced on February 28 that it will lower the benchmark interest rates for lending and deposit of RMB,starting March 1.
China’s Central Bank has decided to lower the benchmark interest rates for one-year lending and one-year deposit by 25 basis points to 5.35% and 2.5% respectively. The limit of floating range in financial institutions was also adjusted from 1.2 times to 1.3 times in benchmark interest rate for deposit along with reforms of marketizing interest rates. The benchmark interest rates for other levels of deposit and lending as well as housing fund were adjusted accordingly.
Relevant officials in China’s Central Bank said that the key of this adjustment in interest rates is to continue to give benchmark interest rates a leading role and further consolidate the result of downward social financing cost so as to create a moderate monetary and financial environment for economic structural adjustment and upgrading.
