China considering measures to adjust lending rates for companies: central bank official

Sun Guofeng, head of the People’s Bank of China’s monetary policy department, said that despite rising expectations of a central bank interest rate cut, it is “more urgent” to allow financial markets, rather than the PBOC, to determine lending rates.

Policymakers should assess domestic macroeconomic conditions to reduce financing costs before pursuing more interest rate reform, the paper said.

“We hope (policy fine-tuning) will not surprise the market when it is introduced,” it quoted Sun as saying.

Read More.. Source Investing