PBoC holds key lending rates

Central bank official says data shows recent easing measures are taking effect

pboc building

The People’s Bank of China (PBoC) held key lending rates steady in a move widely expected by markets, after cutting banks’ reserve requirements last week.

A senior PBoC official said there were signs the central bank’s recent moves to support the economy were taking effect. Since June, the central bank has introduced several measures in a bid to counteract property sector downturn and weak domestic demand.

The PBoC held the one-year loan prime rate (LPR), a reference for most household and

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