China keeps interest rate constant
China's Central Bank kept its one-year loan prime rate at 3.1% and the over-five-year rate at 3.6% on Wednesday, after a series of cuts earlier this year. Inflation has been gradually decreasing, with annual rates falling from 0.6% in August to 0.3% in October.
- Asia
- Anadolu Agency
- Published Date: 11:33 | 20 November 2024
- Modified Date: 11:34 | 20 November 2024
China's Central Bank kept its policy interest rate constant on Wednesday.
The bank's one-year loan prime rate was at 3.1% and the over-five-year rate was at 3.6%.
In October, the People's Bank of China has lowered its policy interest rate by 25 basis points to 3.1%, more than market expectations.
The bank lowered the rate from 3.45% to 3.35% in July and kept it constant during August and September.
The annual inflation rates have been decreasing from 0.6% to 0.3% from August to October in the country gradually.