Speaking at the 2026 Financial Street Forum opening, PBOC's Pan said the central bank will phase out deposit and loan benchmark rates. As interest-rate liberalization progresses, those benchmarks are being replaced by market-based pricing: banks alre

2026-10-19

Speaking at the 2026 Financial Street Forum opening, PBOC's Pan said the central bank will phase out deposit and loan benchmark rates. As interest-rate liberalization progresses, those benchmarks are being replaced by market-based pricing: banks already reference the loan prime rate (LPR) and the interbank overnight repo rate. Since Q1 the PBOC has published average deposit rates by tenor as a deposit-pricing reference. Next, the PBOC will push to replace interest-calculation bases with market-based rate indicators to complete the exit of financial institutions' deposit and loan benchmark rates.

Other News
2026-10-19

Iran's Islamic Revolutionary Guard Corps (IRGC) spokesman Brigadier General Hossein Mohibbi said the United States no longer has the capability to launch a new conflict or extract gains, claiming most US bases in the region have lost combat effective

2026-10-19

China National Financial Regulatory Administration party secretary and director Ding Xiangqun met Bridgewater Associates founder Ray Dalio on Oct. 14, 2026. They exchanged views on the international economic and financial outlook, the development of