People’s Bank of China keeps interest rates unchanged

The People’s Bank of China kept interest rates unchanged in June at 3.7% for one year and 4.45% for 5 years, in a move that was expected by most investors.

The Central Bank had reduced interest rates for one year during the months of November and December of last year by 5 basis points in each, to reach 3.7%, which continues at this level so far.

It is noteworthy that most of the major central banks around the world have raised interest rates in line with the Fed’s decision, which came in light of a violent inflation wave hitting America and Europe.