China central bank chief sees room for lower interest rate - Breaking The News

China central bank chief sees room for lower interest rate

30 December

1 min read

EPA-EFE/JALAL MORCHIDI

People's Bank of China (PBoC) Governor Pan Gongsheng (pictured) said the bank's current monetary policy leaves room for adjustment. At the same time, Gongsheng stated that PBoC would not cut the rates too aggressively and too soon to reduce the risk of a falling yuan.

On December 20, the central bank decided to leave its two interest rates unchanged. Likewise, there was no rate cut in November either. The last rate cut came in October when the PBoC lowered its benchmark interest rates by 25 basis points.

monetary policy interest rates pboc pan gongsheng

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