PBoC cuts rates and moves to address ‘informal lending’


The People's Bank of China (PBoC) lowered its main benchmark rates by 25 basis points on June 8, the first cuts since 2008. The central bank also adjusted its floating band for lending and deposit rates, which some observers believe is the first step to tackling risks posed by a burgeoning 'informal lending' market in China.

The move by the PBoC has resulted in the one-year deposit rate in the country now standing at 3.25%; while the one-year lending rate is now 6.31%. The floating band, which

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: