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China does not need to cut interest.....>

CHINA PRESS
CHINA PRESS: China does not need to cut interest rates in the short term, even
though cuts by the U.S. Federal Reserve leave more room for the PBOC to follow
suit, Securities Daily reported on Friday. The newly implemented LPR pricing
mechanism is not yet mature, the Daily said, and lowering interest rates so soon
after the recent reserve requirement ratio cut would intensify expectations of
further easing. This would in turn increase the market's dependence on rate cuts
and undermine the effect of monetary policy, the newspaper said citing Tao Jin,
a senior researcher at Suning Institute of Finance. 

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