The latest reduction by the central bank, which adds to its own monetary easing and that of about 30 counterparts around the world this year, follows May data showing stabilisation in industrial output and lending.
"A more convincing rebound may come next quarter," Wang Tao, chief China economist at UBS Group in Hong Kong, said before the announcement. "With real activity still weak and deflationary pressures mounting, policy easing has continued to escalate in recent weeks, the boost from which should come soon.
The latest reduction by the central bank, which adds to its own monetary easing and that of about 30 counterparts around the world this year, follows May data showing stabilisation in industrial output and lending."A more convincing rebound may come next quarter," Wang Tao, chief China economist at UBS Group in Hong Kong, said before the announcement. "With real activity still weak and deflationary pressures mounting, policy easing has continued to escalate in recent weeks, the boost from which should come soon.
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