China's Latest Interest Rate Cut Not Warranted

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July 6 (Bloomberg) -- Joy Yang, chief economist for greater China research at Mirae Asset Securities (HK) Ltd., talks about China's economy and central bank monetary policy. In a 45-minute span yesterday, the European Central Bank and People’s Bank of China cut their benchmark borrowing costs, while the Bank of England raised the size of its asset-purchase program. Yang speaks with Susan Li on Bloomberg Television's "First Up." (Source: Bloomberg)