pboc decision, 2005-03-25
The employment of interest rate and other price leverages to exercise macroeconomic management on the one hand helps to avoid the negative effects brought by the administrative measures such as "one-size-fits-all" actions or an abrupt step on the brake pedal, and on the other hand imposes impact on the banking system and the real economy in a gradual way, thus preventing occurrence of new non-performing loans.
Sentiment: neutral
Topic: mp_interest_rate