China Relaxes CD Interest Rate Ceiling in Further Reform Step
China’s central bank has relaxed the implicit ceiling on interest rates for certificates of deposit in a further move to reform the financial sector, but it stopped short of easing the cap for all types of deposits, as had been speculated in recent days.
Citing three anonymous sources, Reuters reported Friday that the People’s Bank of China (PBOC), the country’s central bank, will relax its implicit limit of commercial banks’ deposit rates.
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