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.