Central Bank to Gradually Liberalize Interest Rates
Published:
2011-05-19
The People's Bank of China issued its annual report for 2010 yesterday. The central bank committed itself to gradually pushing ahead with interest rate liberalization so that interest rates were determined more by market rates and also to reforming the mechanism by which the exchange rate of China's currency is determined. The bank hopes to have interest rates play a more important role as a monetary policy tool that can be used to alter aggregate demand and inflation expectations.
Source
Xinhua News Agency
Google translation
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