PBoC looks into narrowing interest rate corridor
Central bank elaborates on recent changes to monetary policy framework
The People’s Bank of China (PBoC) has vowed to bolster the authority of its short-term policy rate and study how to narrow its interest rate corridor to better guide market rates.
In its second-quarter monetary policy report, published on August 10, the central bank said it would clarify that the seven-day reverse repurchase (repo) rate was now its key policy rate.
The PBoC last month expanded its monetary toolkit in a bid to strengthen its day-to-day management of market interest rates. On July 8
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