BEIJING China's central bank unveiled a key interest rate reform on Saturday to help steer borrowing costs lower for companies and support a slowing economy that has been hurt by a trade war with the US.
The People's Bank of China said it will improve the mechanism used to establish the loan prime rate from this month, in a move to further lower real interest rates for companies as part of broader market reforms. Analysts say the move, which came after data that showed weaker than expected growth last month and followed a Cabinet announcement on Friday, underscores the government's attempts to use reforms to support a slowing economy.
"By reforming and improving the formation mechanism of the LPR, we will be able to use market-based reform methods to help lower real lending rates," the central bank said in a statement. The central bank will"deepen market-based interest rate reform, improve the efficiency of interest rate transmission, and lower financing costs of the real economy".- REUTERS
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Generational clash emerges among US experts in China policy debateSAN DIEGO (WASHINGTON POST) - An emerging generation of China policy experts is advocating a much sharper tone and approach towards Beijing, in contrast with a number of veteran China hands whose careers were shaped by the promise and tradition of engagement.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
US-China tensions will affect S'pore, but slowdown not hitting jobs yet: PM LeeGROWING tensions between the United States and China have an impact on both Singapore's foreign relations and economic growth, Prime Minister Lee Hsien Loong said in his Chinese speech during Sunday night's National Day Rally. But although Singapore's growth has slowed this year, it has not significantly affected jobs so far, he added. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
NDR 2019: China and US have yet to find 'magic pill' for their differencesSINGAPORE — The United States and China have yet to find the “magic pill” to manage their differences, which has left countries like Singapore in a dilemma, said Prime Minister Lee Hsien Loong in his annual National Day Rally (NDR) speech on Sunday (18 August).
Source: YahooSG - 🏆 3. / 71 Read more »
US and China seeking to revive trade talks: Trump advisorWASHINGTON (AFP) - Washington and Beijing are working actively to revive negotiations aimed at ending the trade war that has rattled world markets, Donald Trump's chief economic adviser said Sunday (Aug 18).. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
US and China seeking to revive trade talks: Trump advisorWASHINGTON: Washington and Beijing are working actively to revive negotiations aimed at ending the trade war that has rattled world markets, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US and China seeking to revive trade talks: Trump advisor[WASHINGTON] Washington and Beijing are working to revive pivotal talks aimed at ending the trade war that has roiled world markets, Donald Trump's chief economic advisor said on Sunday. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »