pboc decision, 2004-07-02
In order to improve the central bank interest rate formation mechanism, further strengthen central bank's capability in guiding market interest rate movement, harmonize the financing and interest rate relationship between the central bank and the borrowers, improve the scientific, efficient and transparent approach of central bank lending management, with the approval of the State Council, the PBC decided to float central bank lending rates, effective on March 25, 2004.
Sentiment: rate_hike
Topic: mp_interest_rate