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China to 'moderate' use of interest rates

CHINA'S central bank yesterday said it will make "moderate" use of interest rates this year, signaling that it may be less aggressive in cutting borrowing costs after five reductions last year.

The quarterly monetary-policy report, which also urged more "balanced" lending by banks, came after an unprecedented surge in new loans last month. The document was posted on the Website of the People's Bank of China late yesterday.


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