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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Karen Yeung

Karen Yeung

Karen Yeung joined the Post in 2017 after more than 15 years' experience on global newswires in Hong Kong and Shanghai. She spent eight years in Shanghai and has received awards for best feature, analysis and agenda-setting.