摘要
Freeing up Lending Rates The People＇s Bank of China （PBOC）, the nation＇s central bank, announced that it removed the floor on commercial banks＇ lending rates on July 19, 2013, in a step toward more market-driven credit pricing. Previously, the lending rate floor was 70 percent of the benchmark lending rate set by the PBOC. Taking effect on July 20, the easing measure is aimed at cutting financing costs for companies, the central bank said.
Freeing up Lending Rates The People＇s Bank of China （PBOC）, the nation＇s central bank, announced that it removed the floor on commercial banks＇ lending rates on July 19, 2013, in a step toward more market-driven credit pricing. Previously, the lending rate floor was 70 percent of the benchmark lending rate set by the PBOC. Taking effect on July 20, the easing measure is aimed at cutting financing costs for companies, the central bank said.
