China's central bank unveils interest rate policy

China's central bank has unveiled its market-oriented proposals on interest rate policies.

Source: Xiangju News Agency

The People's Bank of China, the country's central bank, has said that China's interest rate market reform would give priority to foreign currencies, rather than the Chinese currency.

That means the day when the fluctuation of interest rates of foreign currencies will be liberalized would come before the floating of the renminbi rate.

According to a bank report released Thursday 2

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