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9/22, 3:31 AM (Source: TeleTrader)
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PBoC holds interest rates

The People's Bank of China (PBoC) announced it decided to leave key interest rates unchanged in September, 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.

Breaking the News / NL