PBOC: China's interest rate reform cannot replace monetary policy and other policies

Reuters reports the latest comments from the People’s Bank of China (PBOC) after the Chinese central bank set the new (reformed) 1-year loan prime rate (LPR) at 4.25% – slightly lower than 4.31% seen under previous calculation. 

Key Headlines:

China's interest rate reform cannot replace monetary policy and other policies.

Will work with other govt departments to take measures to lower corporate funding costs, especially for small and private firms.

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