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People’s Bank of China keeps interest rates unchanged

People’s Bank of China keeps interest rates unchanged

ArabFinance: The People’s Bank of China (PBOC) decided to keep interest rates unchanged, Reuters reported on September 20th.

The bank kept the one-year loan prime rate (LPR) at 3.65%, while the five-year LPR was maintained at 4.30%.

Chinese monetary policy markers are moving carefully on immediate easing owing to the decline in the Yuan.

By 3:22 AM, Eastern Time, the USD inched up 0.08% against the Yuan, reaching ¥7.0120.

It is worth noting that the PBOC kept the medium-term policy rate unchanged and withdraw liquidity from local banks.

 

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