Beijing’s monetary easing path is a conflicted one

Beijing trimmed its newly reformed one-year benchmark lending rate to 4.2%. Policymakers want to boost slowing growth, but without fueling a property or credit bubble. The result is another half-step towards loosening, says cbeddor

An investor watches a market board indicating the Chinese stock market index in a trading house in central Beijing November 3, 2008.

China stocks were still down slightly Monday after a third rate cut in six weeks and a barrage of initiatives to shore up banks and prime-pump sputtering economies, after world stock markets had their worst month ever falling 20 percent in October alone. A measure of Chinese manufacturing activity released Monday showed factory output shrank sharply in October in the face of waning orders, while officials pledged further steps to boost domestic demand to keep the economy from slowing too much.

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