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PBOC Should Further Cut Longer-term Rate: Times

CHINA PRESS
MNI (Singapore)

The People’s Bank of China should consider cutting medium and long-term interest rates moderately, as the relatively high rates are still dampening longer-term financing especially mortgage lending, the Securities Times reported citing Zeng Gang, deputy director of the National Institution for Finance & Development. Weak credit demand is the core problem constraining credit expansion, said Zeng. More efforts should be made to smoothen the monetary policy transmission mechanism, such as better using government funds to drive private capitals in investment, the newspaper cited Zeng as saying.

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