SHANGHAI: China's central bank partially rolled over maturing medium-term policy loans while maintaining the interest rate as expected on Thursday, as hawkish U.S. Federal Reserve tightening limited room to manoeuvre monetary policy to support the economy.
The pause in monetary easing came as the yuan bears increasing downside pressure after the People's Bank of China (PBOC) surprised markets in August by lowering key rates, a move that further widened policy divergence with other major economies that are raising rates aggressively.
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