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Lending rate cut predicted for June

(Global Times)

08:12, May 30, 2012

The People's Bank of China (PBC) is expected to lower its benchmark lending rate in June in order to encourage enterprises to expand production by lowering their financing costs, according to a report issued by China International Capital Corporation (CICC) Tuesday.

The report also pointed out, after this interest rate cut, the PBC will probably lower the deposit interest rate accordingly.

"If the PBC decided to only lower the lending rate without cutting the deposit rate, commercial banks would have high incentives to make the lending rate float upwards to maintain the benefits of a wide interest rate spread," CICC said.

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