keep Chinese central lending interest One-year average term, unchanged, at 2.85%, in line with analyst expectations.
The People’s Bank of China refrained from cutting key interest rates to limit divergence in monetary policy with the United States, in order to avoid increasing pressure on the yuan.
The Chinese central bank’s decision comes hours before the US Federal Reserve’s decision, as expectations are heading to increase interest rates by 75 basis points, which will be the first of its size since 1994.
The Chinese Central Bank had recently announced a package of measures to support individuals and companies, in light of the outbreak of the Corona virus in the country.
The Chinese central bank urged banks to expand lending to individuals with flexible jobs and to provide long-term, lower-interest loans to small businesses affected by the virus outbreak.
