China kept a key interest rate unchanged — a move widely expected by economists — as it seeks to keep its powder dry ahead of possible escalation in trade tensions with the US.
The People’s Bank of China held the interest rate on the one-year medium-term lending facility steady at 2%, according to a statement on Wednesday. Nine out of the 10 economists surveyed by Bloomberg forecast no change. The rate was last cut in September by 30 basis points.
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