China may see further reductions in interest rate and cash reserve ratios before the end of this year as the government struggles to shield the economy from intensifying global headwinds, a former official with the National Development and Reform Commission (NDRC) said Thursday.
Cao Wenlian, who is now the director of China Center for International Economic Exchange (CCIEE), predicted at least three reductions in the reserve requirement rate before the end of this year and two more interest rate cuts in the second half of this year.
The People's Bank of China reduced interest rate by a quarter point last week, reflecting mounting concerns about the health of the global economy.
by RTT Staff Writer
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