In a bid to stabilize the yuan and manage liquidity, the People’s Bank of China has decided to keep its key interest rate unchanged for the tenth consecutive month. What Happened: The PBOC has maintained the one-year policy loan rate, also known as the medium-term lending facility rate, at 2.5% for the tenth month in a row on Monday, reported Bloomberg. This decision aligns with the forecast in a Bloomberg survey. The bank also withdrew a net 55 billion yuan ($7.6 billion) from the banking system to prevent excessive liquidity. Despite a fragile recovery in the world’s second-largest economy, …
