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Hue Mi
07-21-2013, 05:01 PM
China frees the benefits of bank loans (http://www.newsabah.com/ar/2624/24/100283/%D8%A7%D9%84%D8%B5%D9%8A%D9%86-%D8%AA%D8%AD%D8%B1%D8%B1-%D9%81%D9%88%D8%A7%D8%A6%D8%AF-%D8%A7%D9%84%D9%82%D8%B1%D9%88%D8%B6-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%81%D9%8A%D8%A9.h tm?tpl=13)

2013-07-21 Capitals of Reuters

China's Central Bank announced a long-awaited reform of interest rates on Saturday, lifting the restrictions on the interest charged by banks to lend to customers in a step towards liberalization of the credit market.

And according to the people's Bank of China in a statement on his website that eliminates the minimum lending rate at commercial banks means banks could now cut interest rates as it sees fit to attract borrowers.

Meanwhile, the dollar stood near its highest in a week against the yen ahead of the election of Councillors (Senate) in Japan that may enhance the results of Prime Minister Shinzo Abe's efforts for economic reform.

The Australian dollar rose to its highest level against the US meeting, after China's Central Bank announced interest rate reforms.