China’s central bank left its short-term borrowing rates unchanged on Thursday, choosing not to follow its US counterpart, which raised its benchmark rate just hours earlier. Photo: Bloomberg

Fed rate increase limits China’s central bank’s ability to help struggling economy battling US trade tensions

  • A cut in benchmark interest rates could have put significant downward pressure on the yuan exchange rate
  • The People’s Bank of China did announce a modest Targeted Medium-Term Lending Facility rate cut just hours before the US Federal Reserve raised its borrowing costs
Topic |   China economy

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China’s central bank left its short-term borrowing rates unchanged on Thursday, choosing not to follow its US counterpart, which raised its benchmark rate just hours earlier. Photo: Bloomberg
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