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China Seen Reducing Rates Again After First Cut Since 2012

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China is poised to deliver deeper interest rate cuts after yesterday’s unexpected decision to reduce borrowing costs for the first time since 2012.

With the world’s second-largest economy on track to record its weakest annual growth since 1990, economists at JPMorgan Chase & Co., Barclays Plc and UBS AG all said the People’s Bank of China will act again to shore-up demand.