The remarks by the People's Bank of China align with policymakers' commitment made last year towards creating a more market-driven interest rate curve. Analysts anticipate it will make further changes this year to ensure credit demand is more responsive to monetary policy moves.
The PBOC said that it would prioritise "the role of interest rate adjustments" and move away from "quantitative objectives" for loan growth, the FT reported, as it embarks on a programme of interest rate reform that government advisors have called "an arduous task".
"The PBOC will pay more attention to the role of interest rate control, and improve the formation and transmission of market-orientated interest rates," the bank said.
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Top IITs See a Drop in Campus Placements
â More students likely getting jobs independently
US set to lift curbs on Indian nuclear entities
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Consent manager framework: A key Big Tech concern
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D-Street catches flu
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Banks, NBFCs see hit to...
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Q-comm boost to gig worker hiring in 2025
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Eight jawans among 9 killed in Naxal attack
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