China sees accelerating interest rate reform, starting with deposits

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The People's Bank of China

The People's Bank of China (PBoC) looks set to quicken the pace of reform focusing on the domestic financial industry through further liberalisation of deposit rates and regulation, and overhauling the regulatory institutional structure with the establishment of a new agency to coordinate monetary and financial policy.

Wei Yao, Hong Kong-based economist with Société Générale, writes in a research note that following measures to liberalise the capital account and on the convertibility of the renm

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