Last updated on October 18, 2023
In a move that was in line with market predictions, China decided to keep its benchmark lending rates unchanged at the monthly fixing on Wednesday. This decision comes as the country continues to witness signs of economic stabilization and a depreciation of the yuan, both of which have lessened the urgency for immediate monetary easing.
With ongoing indications of economic recovery and a relatively weaker currency, China’s central bank has opted to maintain the current lending rates. This decision reflects the authorities’ confidence in the improving economic situation and their belief that additional measures to boost the economy are not immediately necessary. The stability in lending rates also serves to maintain balance in the market and avoid any potential disruptions that could arise from sudden changes in monetary policy.
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