BEIJING: China has launched a new benchmark lending rate in another step towards letting markets set the cost of funds and reducing distortions that have led to excessive investment and overcapacity now dogging the world’s second-largest economy.
The “loan prime rate,” would guide commercial bankers when setting interest rates when lending to their best customers, the country’s central bank said.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!