China central bank chief says current interest rate level is appropriate: Caixin By Reuters

China central bank chief says current interest rate level is appropriate: Caixin By Reuters



BEIJING (Reuters) – China’s central bank governor Yi Gang said the country’s current interest rate level is appropriate, the financial magazine Caixin reported on Tuesday.

China will keep its benchmark deposit rate for a relatively long time, but will phase out its benchmark lending rate in the push to unify the benchmark lending rate and market-based rates, Yi said in a recent interview with Caixin.

Any rate cut by China will aim to cope with deflation risk, Yi was quoted as saying.

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