PBoC holds interest rates

Wednesday, 20. October 2021 03:35

The People's Bank of China (PBoC) announced it decided to leave key interest rates unchanged in October, in line with market expectations.

The central bank maintained its one-year loan prime rate at 3.85%, as projected, and kept its five-year loan prime at the expected 4.65%.

The decision marks over a year of the PBOC holding its rates after the bank opted for a 20 bases point-rate cut in March of 2020 due to a bearish inflationary outlook of the pandemic-hit economy.

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Breaking the News / NL