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.
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