The Central Bank canceled the home loans rates by 70 percent lower, the short-term impact of smallApproved by the State Council, people's Bank of China, from July 20, 2013 and the opening up of financial institutions loans interest rates. This means that China's interest rate market-oriented reform has taken an important step.
which mainly includes financial institutions loans interest rate lower limit of 0.7 times, according to commercial principles determined by financial institutions loans interest rates. Cancel the discount interest rate controls, changing the discount rate and the discount rate on the basis of some manner to be determined, determined by financial institutions. To put a cap on lending rates no longer in rural credit cooperatives.
reform of interest rate market in China is to cancel the loan interest rate of 70 percent lower as a first step, and finalize should be the end to cancel deposit interest rates of financial institutions and, of course, which go through a Chinese financial institutions in the process of deposit and loan interest rates pricing power.
interest rate is the interest rate of the decision-making to financial institutions, by financial institutions based on financial situation and trend of judgment in autonomic regulation of interest rates on financial markets, eventually forming based on the Central Bank's benchmark interest rate, the mediation of money market interest rates, determined by market supply and demand deposit and loan interest rates of financial institutions market interest rates and the interest rate formation mechanism. Interest rate liberalization is supporting China's financial system, lower the threshold for entry and exit of capital, an important step.
interest rate market in China can be divided into two stages, the first stage is 1996-2011, this stage of foreign currency deposits and loans, money market and bond market interest rate liberalization completed deposit rates tube caps, lower lending rates tube.
second stage is 2012, the ceilings on deposit rates rise for the first time, a floor on lending rates to fall, marks the substantive progress in the reform of interest rate market in China.
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