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China Seen Cutting Rate, Boosting Cash to Support Economy
China’s central bank is likely to cut a key policy rate and pump more cash into the financial system on Monday as it tries to counter deflationary pressures and boost lending to support the economic recovery. The People’s Bank of China is expected to lower the rate on its one-year policy loans — called the medium-term lending facility — by 10 basis points to 2.4%, according to the median estimate in a Bloomberg survey of 15 economists. That would be the first trim to the rate since a surprise 15-basis-point reduction last August. The PBOC is also seen injecting a net 121 billion yuan ($16.9 billion) through ... (full story)