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China central bank sees deposit rate liberalization within two years
March 11, 2014 / 1:26 AM / 4 years ago

China central bank sees deposit rate liberalization within two years

A man looks at the Pudong financial district of Shanghai November 20, 2013. REUTERS/Carlos Barria

BEIJING (Reuters) - China is likely to liberalize deposit rates in one to two years, central bank Governor Zhou Xiaochuan said on Tuesday at a media conference at China’s annual parliament session.

“Deposit rate liberalization is on our agenda. Personally I think it’s very likely to be realized within one or two years,” Zhou said.

Market talk has been rife that the central bank is quietly loosening policy to support economic growth as short-term money rates and the yuan weakened on Monday after surprisingly weak exports data at the weekend.

Reporting by China economics team

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