PBOC keeps interest rates unchanged
The People’s Bank of China (PBOC) announced on Wednesday it decided at its first monetary policy meeting of 2021 to leave key interest rates unchanged in January, 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 the ninth consecutive month of the PBOC holding its rates after the bank opted for a 20 bases point-rate cut in March due to a bearish inflationary outlook of the pandemic-hit economy.
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