SHANGHAI : China cut its lending benchmark loan prime rate for the first time in 20 months on Monday, in a bid to prop up growth in the slowing economy, although it remains wary of loosening conditions in the country's highly leveraged property market.
"The cut reinforces our view that authorities are increasingly open to cutting interest rates amid looming economic headwinds," said Xing Zhaopeng, senior China strategist at ANZ. Some analysts expect Beijing could ease further to arrest the economic slowdown, although they remain divided over the easing trajectory.
Source: News Formal (newsformal.com)
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