News Snapshot:
BEIJING (Reuters) - China should guide market interest rates lower to support economic growth and ease funding pressure on local governments, a former central bank official said, adding to the debate over whether Chinese and U.S. monetary policy will diverge further. Reasonable rate cuts also would help create space for the People's Bank of China (PBOC) to tighten policy if needed in the future, in order to cope with an expected weakening in the yuan, Sheng Songcheng, former head of statistics at the PBOC, said in a column published late on Tuesday on Sina Finance, a financial news outlet. "It's...
