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China stands pat on rates this time after Fed lifts benchmark

Reuters  |  SHANGHAI 

By John Ruwitch and Winni ZhouSHANGHAI (Reuters) - China's central bank left interest rates for open market operations unchanged on Thursday, shrugging off an overnight increase in the U.S. Federal Reserve's key policy rate.The People's Bank of China (PBOC) did not explain its rationale for keeping rates unchanged, but the yuan is on steadier footing and domestic liquidity conditions are much tighter than they were in mid-March, when it followed a Fed hike within hours.Markets had been divided over whether the PBOC would raise short-term rates again in lockstep with the Fed, with those in the ...

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First Published: Thu, June 15 2017. 10:33 IST