China’s Central Bank Keeps Key Interest Rates Unchanged
(MENAFN) China’s central bank maintained its benchmark policy interest rates on Wednesday, meeting market expectations and signaling a cautious stance amid sluggish inflation, according to an official statement.
The People’s Bank of China (PBOC) held the one-year loan prime rate (LPR) steady at 3%, while the five-year LPR remained unchanged at 3.5%. These rates have been stable since June, following a rate cut in May when the one-year LPR was lowered from 3.6%.
This steady approach comes as China grapples with persistently low inflation. The country’s annual inflation rate registered at 0% in August, slipping slightly from 0.1% in July and down from minus 0.1% in June, highlighting ongoing challenges in stimulating price growth.
The central bank’s decision to maintain current rates reflects a balanced effort to support economic recovery while keeping inflationary pressures in check.
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