India’s Ex-Finance Minister Says Rates Should Be Lower

India’s former Finance Minister Palaniappan Chidambaram joined his successor in advocating lower interest rates, while stopping short of endorsing the current administration’s budget.

China Must Tolerate Some Volatility in Market Rates, PBOC Says

China’s central bank said reasonable volatility in money-market interest rates must be tolerated as it manages liquidity in the country’s financial system to rein in credit growth.