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China central bank to improve benchmark interest rate system

BEIJING, Aug 31 (Reuters) - China’s central bank said on Monday it will make interbank repo rates by depository institutions (DR) a key reference for monetary policy adjustment and financial market price-setting.

Improving China’s benchmark interest rate system is key for deepening the market-based interest rate reform, the People’s Bank of China said in a statement on its website. (Reporting by Lusha Zhang and Kevin Yao; Editing by Toby Chopra)

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