China money rates edge lower on loose liquidity, near term bias down

China’s primary money rates
ended Friday’s session modestly lower from a week earlier and
are set to stay down over the near term as authorities seek to
support slowing growth.
Traders said liquidity levels remained relatively loose
despite the central bank making no net cash injections or
withdrawals for an unprecedented third straight week.
A slight drop in money market rates reflected broad
expectations of further policy loosening to shore up an econom