SHANGHAI, China — China unexpectedly left benchmark lending rates unchanged at the monthly fixing on Friday, confounding market expectations that were primed for a move after the Federal Reserve (Fed) delivered an outsized interest rate cut earlier this week.
SHANGHAI, China — China unexpectedly left benchmark lending rates unchanged at the monthly fixing on Friday, confounding market expectations that were primed for a move after the Federal Reserve delivered an outsized interest rate cut earlier this week.However, market watchers widely believe further stimulus will be rolled out to prop up an ailing economy, as the Fed's easing offers Beijing leeway to loosen monetary policy without unduly hurting the yuan.
'A string of August economic data, including credit lending and activity indicators, surprised to the downside and raised the urgency to roll out more stimulus measures to prop up the world's second-biggest economy, market watchers said.Analysts and policy advisers expect Chinese policymakers to step up measures to at least help the economy meet the increasingly challenging 2024 growth target.
Retains Benchmark Lending Rates
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