China’s Rate Cut Flurry Signals Phasing Out of Key Lending Tool
Wall Street Journal
Economists have widely interpreted this week’s unusual sequence of events as evidence that the medium-term lending rate’s importance is being purposefully diminished as the PBOC pushes to let short-term rates play a more prominent role in guiding markets.
https://www.wsj.com/articles/chinas-rate-cut-flurry-signals-phasing-out-of-key-lending-tool-33a55f3f