September 18, 2014 / 11:33 AM / 3 years ago

China should avoid cutting interest rates adviser

BEIJING, Sept 18 (Reuters) - China should avoid cutting interest rates if possible and try other strategies instead to keep the broad measure of money supply, M2, growing at an annual rate of around 13 percent, an adviser to the country’s central bank said on Thursday.

Chen Yulu, a member of the central bank’s monetary policy committee, said China could use open market operations or selectively cut reserve requirements for some banks to lower borrowing costs.

Market expectations are building that China’s central bank could further loosen fiscal and monetary policies in coming months as growth in the world’s second-biggest economy falters once more on softening domestic demand. (Reporting by Koh Gui Qing; Editing by Clarence Fernandez)

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