Chinese interest rates at appropriate level: PBOC

China has no plan to lower the interest rates at present as the current interest rates area at a "relatively appropriate" level, sources reported, citing Yi Gang, deputy governor of the People's Bank of China.

China may adjust the interest rates depending on the needs of the country's monetary policy, said Yi, without ruling out the possibility of further cuts by the end of this year.

China has cut the interest rates three times since mid-September. In addition, China's consumer price index (CPI) has fallen from 8.7% in February to 4% in October.