BEIJING: China has refrained from cutting interest rates and has drained the most cash since 2014 with a one-year policy tool, keeping its powder dry ahead of possible escalation in trade tensions with the United States next year.
The People’s Bank of China (PBoC) held the interest rate on the one-year medium-term lending facility steady at 2% – a move predicted by nine of out 10 economists surveyed by Bloomberg.
