Further interest rate cuts likely

Hong Kong: China will face pressure to cut interest rates until the beginning of next year, Zhou Xiaochuan, governor of the People's Bank of China (PBOC), the central bank, said yesterday.

"From now until the beginning of next year is full of interest rate cut pressure," Zhou said in Hong Kong, where the Financial Stability Forum is meeting.

The deepness of the interest rate cuts "will depend on our estimates and the actual statistics of CPI (consumer price index) for us to make rate cut decisions", Zhou said.