China could abolish policy rates in 2015: Deutsche
Transforming China’s monetary policy framework to a price-based one with fully liberalised interest rates requires a series of steps that is expected to materialise in two years, says the bank.
China’s monetary policy rates consist of deposit rates and lending rates, but these could evolve into the establishment of a single fixed prime rate in the next two years.Once China’s certificate of deposit (CD) market is well developed and the ceiling on the deposit rate is ...
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