✉news BusinessBanking first seen 4 d ago, last 4 d ago, peak #34
China's central bank shifts policy rate anchor to overnight
Original: Update: Chinese central bank shifts policy rate anchor to overnight
The People's Bank of China has moved its main policy rate anchor to the overnight interest rate, according to state news agency Xinhua. The change signals a further step in the bank's overhaul of its monetary policy framework, shifting day-to-day guidance of market rates toward the overnight interbank rate rather than medium-term lending facilities. Analysts will watch how the transition affects liquidity management and rate transmission.
Why now: The central bank's reform of its monetary policy framework has direct implications for China's financial markets and global rate expectations.
People's Bank of ChinaChinaXinhua
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