Editor's Note: The central bank announced an asymmetric cut in benchmark interest rates on Nov 21 - the first reduction since June 2012. The one-year lending rate fell 40 basis points to 5.6 percent and the one-year deposit rate went down 25 bps to 2.75 percent. The People's Bank of China also advanced its interest rate liberalization agenda by authorizing deposit rates that are 20 percent above the benchmark rate, up from the previous 10 percent. Observers are seeking clues as to when and how the central bank will further ease monetary policy, liberalize interest rates and accelerate financial reforms. Several economists and analysts provide their thoughts on these matters here.

Liu Linan, greater China rates strategist, Deutsche Bank AG

We believe that the central bank is committed to alleviating corporate funding difficulties and to tackling structural issues with accelerating interest rate reforms after the rate cuts on Nov 21.