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2 Aug 2013
Flash: Liberalizing deposit rates – BBH
FXstreet.com (London) - Marc Chandler, Global Head of Currency Strategy, BBH Global Currency Strategy Team said there is more talk about liberalizing deposit rates in China.
Key Quotes:
“After the usual back and forth media reports, it seems as if the PBOC has already agreed in principle to a proposal to liberalize 5-year deposits”.
“This would be a small but symbolic step (some estimates suggest that 5-year deposits account for less than 5% of total deposits)”.
“The latest idea floated in the media is that the PBOC will set up 3 benchmark lending rates for maturities less than 1-year, 1-year, and 5-years”.
Key Quotes:
“After the usual back and forth media reports, it seems as if the PBOC has already agreed in principle to a proposal to liberalize 5-year deposits”.
“This would be a small but symbolic step (some estimates suggest that 5-year deposits account for less than 5% of total deposits)”.
“The latest idea floated in the media is that the PBOC will set up 3 benchmark lending rates for maturities less than 1-year, 1-year, and 5-years”.