China maintains strict controls over capital flows, giving it leeway to keep interest rates low without risking capital flight. Photo: AFP

World’s two largest economies diverge as China leaves key interest rate unchanged in wake of US Fed cut

The People’s Bank of China refused to mirror its US counterpart on Thursday, anxious to maintain low borrowing costs amid smouldering trade war

Topic |   China economy

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China maintains strict controls over capital flows, giving it leeway to keep interest rates low without risking capital flight. Photo: AFP
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