China holds key rate flat

Move comes two days before PBoC starts selling long-term sovereign bonds

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China’s central bank held one of its key rates flat today (May 15) as the world’s second-largest economy recovers from a slump.

The People’s Bank of China (PBoC) left the rate on its medium-term lending facility unchanged at 2.5%. It offered 125 billion yuan ($17.3 billion) through the facility at a maturity of one year.

The move comes two days after China said it would start selling long-term sovereign bonds as part of efforts to boost the economy.

The country’s finance ministry said on May 13

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