PBOC Advances Diversification of Loan Rate Pricing Benchmarks
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On 4 November 2026, Zou Lan, Deputy Governor of the People's Bank of China, said at the Global Financial Leaders' Investment Summit that the PBOC will continue to advance reform of the monetary policy framework, give play to the role of interest rate regulation and improve the short-term interest rate regulation mechanism. He also proposed shifting the loan interest rate pricing benchmark from a relatively single reference to the Loan Prime Rate (LPR) towards more diversified pricing benchmarks. The report did not mention a specific timetable or implementation details, and progress currently remains at the level of a statement of policy direction.
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- 明報·每日經濟PBOC Deputy Governor Zou Lan: Loan Rate Pricing Benchmarks Shifting to Greater Diversity
People's Bank of China Deputy Governor Zou Lan said at the Global Financial Leaders' Investment Summit that the PBOC will continue to advance reform of the monetary policy framework, give play to the role of interest rate regulation and improve the short-term interest rate regulation mechanism, and promote the transformation of loan rate pricing benchmarks from a relatively single reference to the loan prime rate towards more diversified pricing benchmarks.
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