China Swap Rate Declines to Two-Year Low as More Easing Seen
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China’s one-year interest-rate swaps dropped to a two-year low as slowing inflation boosted bets the central bank will implement more targeted easing measures.
Consumer prices rose the least in almost five years and factory-gate prices fell the most since April, official data showed today. The People’s Bank of China cut the interest rate on 14-day repurchase agreements to 3.4 percent from 3.5 percent yesterday, after lowering it from 3.7 percent on Sept. 18.