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PBOC Plans Rate Cut at Appropriate Time This Yr
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The People's Bank of China (PBOC) told the Financial Times that it plans to reduce interest rates at an appropriate time this year, and priority will be given to interest rate adjustments rather than loan growth as a quantitative target. The Chinese central bank indicated that such quantitative target has been gradually phased out in recent years with the alignment of high-quality development requirements. The bank said it will pay more attention to the role of interest rate control to improve market-driven interest rate formation and transmission. AAStocks Financial News |
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