China holds key interest rate steady
Mint Mumbai|February 19, 2024
China refrained from cutting a key policy interest rate as its central bank sought to shield the yuan from volatility, underscoring the challenges policymakers face as they try to manage economic risks and pressures from deflation.
China holds key interest rate steady

The People's Bank of China held the interest rate on its one-year policy loans at 2.5% on Sunday while injecting a small amount of cash into the financial system, both moves in line with expectations among most economists surveyed by Bloomberg.

The move came after the yuan slipped to a three-month low in offshore trading last week amid a resurgence in the dollar.

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