China's central bank might cut interest rates from current level of 1.5% in 2025: Report
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The People's Bank of China said that it would prioritise «the role of interest rate adjustments» and move away from «quantitative objectives» for loan growth, as it embarks on a programme of interest rate reform that government advisors have called «an arduous task.»
China's main rate is its seven-day reverse repo rate, which it last cut from 1.7% to 1.5% in late September.
During a high-level economic agenda-setting meeting in December, China's top leaders vowed to cut interest rates «in a timely manner» and reduce the amount of capital banks must hold in reserve, as part of a broader effort to spur lending and investment in the ailing economy.
The country's top policymakers also pledged at the Central Economic and Work Conference to increase the budget deficit and loosen monetary policy, as the world's second-largest economy braces for more trade tensions with the United States as Donald Trump returns to the White House.
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