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- PBOC keeps benchmark interest rate unchanged at 3.7%
PBOC keeps benchmark interest rate unchanged at 3.7%
The People’s Bank of China (PBOC) matched wide marked expectations to keep the benchmark interest rates unchanged during Monday’s Asian session.
As per the latest policy move, the one-year Loan Prime Rate (LPR) was kept at 3.7% while the five-year counterpart remained unchanged at 4.6%.
Following the news, AUD/USD starts picking up bids to 0.7420 whereas the USD/CNY also pares early Asian session losses near 6.3615.
It should be noted that the risk-off mood challenges the AUD/USD prices from cheering the PBOC status-quo.
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