IMF on interest-rate liberalization in China

A recently published article by two members of the IMF's China Division looks at the recent decision by the People's Bank of China to raise interest rates for the first time in nine years. The liberalization of rates is a landmark change, it says, and represents another major milestone in China's transformation to a market economy.

A Commentary by Steven Dunaway, Deputy Director and Eswar Prasad, Division Chief of the China Division, Asia and Pacific Department, International Monetary Fund

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