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Exclusive: China ready to cut rates again on fears of deflation - sources
Exclusive: China ready to cut rates again on fears of deflation - sources

By By Kevin Yao BEIJING (Reuters) - China's leadership and central bank are ready to cut interest rates again and also loosen lending restrictions, concerned that falling prices could trigger a surge in debt defaults, business failures and job losses, said sources involved in policy-making. Friday's surprise cut in rates, the first in more than two years, reflects a change of course by Beijing and the central bank, which had persisted with modest stimulus measures before finally deciding last week that a bold monetary policy step was required to stabilize the world's second-largest economy. Economic growth has slowed to 7.3 percent in the third quarter and policymakers...

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