PBOC Expected to Cut Again on Slowing Economy

The People’s Bank of China will cut benchmark deposit and lending rates again next quarter as the economy slows, according to economists surveyed by Bloomberg.

The median forecast is for a deposit rate of 2.25 percent and a lending rate of 5.10 percent in the April to June period, the survey of analysts from March 2 to March 3 showed. That’s 25 basis points lower on both from the previous survey.

China’s leaders are gathered in Beijing this week where they’ll map out policies on state-owned enterprises, the environment, and deliver the nation’s budget. Premier Li Keqiang is expected to announce a 2015 economic growth goal of about 7 percent, down from last year’s 7.5 percent.

Bloomberg

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