PBOC rates seen on hold until fourth quarter
Central bank to cut one- year lending rate to 4.1% in Q4, say economists
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Beijing
ECONOMISTS now see China's central bank keeping its main interest rate on hold until the fourth quarter, when policymakers will lower it to help safeguard a stabilising expansion.
The People's Bank of China (PBOC) will hold its benchmark one-year lending rate at a record low of 4.35 per cent through the third quarter before cutting it to 4.1 per cent in the fourth quarter, economists said in an April 15-20 survey by Bloomberg. That compares with projections in the March survey for a reduction to 4.1 per cent in the second quarter and another decrease to 3.85 per cent in the fourth quarter.
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