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The People's Bank of China (PBoC) announced a shift to a new interest-rate benchmark on 28 December. In the long run, the new interest-rate regime will provide a more flexible, less political, and more market-sensitive mechanism for influencing medium- and long-term interest rate...

 

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CHINA: New interest-rate benchmark is stealth easing

The People’s Bank of China (PBoC) announced a shift to a new interest-rate benchmark on 28 December. In the long run, the new interest-rate