China Money Rate in Longest Slide Since 2009 as Funding Cost Cut

China’s benchmark money-market rate dropped for a sixth week, the longest run of declines since 2009, as the central bank guided funding costs lower.

The People’s Bank of China cut the yield in its reverse-repurchase operations by 10 basis points this week, the fourth reduction since early March. Consumer prices gained 1.4 percent last month from a year earlier, data from the statistics bureau showed Friday, trailing the government’s 3 percent inflation target for this year.