I am also studying the subject of interest rate marketization. Just, never thought about why. I only know that this is the idea of China's interest rate marketization reform. Generally speaking, the reform is gradual. In China, local currency is more important, with greater influence, greater risks and more steps.

In the encyclopedia of MBA think tank, I am also editing an afternoon entry of "interest rate marketization".

Foreign currency mainly refers to foreign exchange control, including fixed exchange rate system, linked exchange rate system (Hong Kong), floating exchange rate system and free exchange rate system.

China has changed from a fixed exchange rate system to a floating exchange rate system. I don't know the details now, but I'm studying. Come back with a better answer.

The general idea of interest rate marketization reform in China is: "foreign currency first, local currency later;" Loan first, then deposit; First long-term, large amount, then short-term, small amount "shows the determination of the central bank to increase interest rate marketization reform."