China expected to trim main policy rate and lending benchmarks: Reuters poll
SHANGHAI - China is widely expected to trim its main policy and benchmark lending rates on Friday, a Reuters poll showed, after the Federal Reserve's outsized interest rate cut removed some of the risks around sharp yuan declines.But with the U.S. central bank kicking off its monetary easing cycle with a larger-than-usual half-percentage-point reduction this week, analysts and traders believe Beijing has more room to manoeuvre on monetary policy.
Among the remaining 12 respondents, two forecast a reduction only to the five-year LPR, while the other 10 predicted no change to either rate. Economic data for August, including credit lending and activity indicators, surprised to the downside and raised the urgency to roll out more stimulus measures to prop up the economy, market watchers said.
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