China's central bank policy seen steady despite drop in loans

Chinese banks extended fewer loans last month but analysts said the country's central bank is unlikely to further ease monetary policy further as new lending is expected to stabilise on the back of an economic recovery.

New yuan-denominated lending fell 81.6 billion yuan (HK$100.5 billion), or 13.9 per cent, to 505.2 billion yuan from a year ago, the People's Bank of China (PBOC) said on its website yesterday.

The new lending, which was the lowest in 13 months, missed the 590 billion yuan median estimate of 28 analysts surveyed by Bloomberg.

via Business feed http://www.scmp.com/business/banking-finance/article/1081183/chinas-central-bank-policy-seen-steady-despite-drop-loans