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China central bank leaves interest rates unchanged for reverse repos

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China's central bank left interest rates for open market operations unchanged on Thursday, despite its US counterpart increasing its key policy rate overnight.

[SHANGHAI] China's central bank left interest rates for open market operations unchanged on Thursday, despite its US counterpart increasing its key policy rate overnight.

The rate for seven-day reverse repurchase agreements remained at 2.45 per cent, the 14-day tenor at 2.60 per cent and the 28-day tenor at 2.75 per cent, the People's Bank of China said in a statement on its website.

Hours after the US Federal Reserve raised interest rates in March, the PBOC lifted short-term interest rates in what economists said was a bid to stave off capital outflows and keep the yuan stable.

China's benchmark one-year lending and deposit rates have remained unchanged since October 2015.

REUTERS

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