China Puts Monetary Easing on Hold Before Fed’s Rate Increase
(Bloomberg) — China’s central bank abstained from cutting a key policy interest rate, avoiding further policy divergence from the U.S. that could add pressure on the yuan.
The People’s Bank of China (PBOC) kept the rate on its one-year medium-term lending facility (MLF) at 2.85% Wednesday, in line with most forecasts in a Bloomberg survey of economists. The PBOC also rolled over the 200 billion yuan ($29.7 billion) of maturing MLF loans.
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