Interest rates likely to be stable this year

China's monetary policy will not be tightened sharply, as enterprises with high debt need liquidity to avoid defaults

BEIJING: China’s monetary authority may not cut policy rates this year, although monetary easing is going on in other major economies to contain coronavirus risks, according to a policy adviser and a former member of the central bank’s monetary policy committee.

“It is likely that the central bank will maintain a stable level of interest rates this year, without proactively cutting the policy rates, ” said Li Daokui, a member of the 13th National Committee of the Chinese People’s Political Consultative Conference.