China central bank says will continue to push forward LPR reform
A majority of new loans from financial institutions is now issued using LPR as benchmark, while over 92 percent of outstanding floating-rate loans have been converted to use LPR
China's central bank will continue to push forward the reform of Loan Prime Rate (LPR) and bring deposit interest rates into line with market rates, the People's Bank of China said on Tuesday.
A majority of new loans from financial institutions is now issued using LPR as benchmark, while over 92 percent of outstanding floating-rate loans have been converted to use LPR, PBOC said in a statement.