5/20, 3:27 AM (Source: TeleTrader)
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PBoC keeps annual interest rates at 3.7%

The People's Bank of China announced on Friday that in May it will be keeping one-year interest rates unchanged at 3.70% while cutting five-year rates by 15bp to 4.45%.

The Chinese central bank has also pledged to increase monetary easing in order to stabilize the country's economy amid price surges and supply chain issues due to the ongoing COVID-19 lockdowns.

On April 20, the PBoC previously decided to leave key interest rates unchanged, in line with major market expectations.

Baha Breaking News (BBN) / SP