The one-year benchmark lending rate is currently set at 4.35 per cent, while the one-year deposit benchmark rate is set at 1.5 per cent. Photo: Bloomberg

China unlikely to follow US Federal Reserve interest rate cut, central bank governor suggests

  • People’s Bank of China chief Yi Gang tells Chinese magazine ‘Caixin’ that Beijing does not always follow rate changes made by its American counterpart
  • The US Federal Reserve is widely expected to announce a 0.25 percentage point cut next week
Topic |   China economy

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The one-year benchmark lending rate is currently set at 4.35 per cent, while the one-year deposit benchmark rate is set at 1.5 per cent. Photo: Bloomberg
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