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The PBOC will use market-based..........>

CHINA PRESS
CHINA PRESS: The PBOC will use market-based reforms to significantly lower the
level of actual interest rates, the PBOC-run newspaper Financial News reported
on Monday. Citing the Q3 meeting of the PBOC's monetary policy committee,
Financial News said the central bank was sending a signal on the use of the new
loan prime rate (LPR) pricing mechanism. The latest one-year LPR rate declined
by 0.5 pp because banks' borrowing costs were lower due to the reserve
requirement ratio cut, the newspaper said. Keeping the five-year LPR rate
unchanged could avoid stimulating the real estate sector by limiting downward
pressure on mortgage interest rates.
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