A source in a Chinese government think-tank involved in high-level policy discussions disclosed on November 23, 2014, that China's leadership and central bank -- concerned that falling prices could trigger a surge in debt defaults, business failures and job losses -- have changed their thinking and are ready to cut interest rates again and also loosen lending restrictions. 

The cut in interest rates implemented on November 21, 2014, came as a surprise and was the first in more than two years, reflecting a bold monetary policy step.