Breaking News: PBOC unexpectedly leaves rates unchanged for reverse repos

The People's Bank of China (PBOC) unexpectedly left borrowing costs for interbank loans unchanged on Thursday, despite a 25 basis point Fed rate hike. 

The rate for seven-day reverse repurchase agreements is held unchanged at 2.55 percent, the 14-day tenor at 2.70 percent and the 28-day tenor at 2.85 percent, according to PBOC website. 

Markets were expecting the PBOC to hike rates to keep the spread between the US and Chinese yields from rising, avoiding the risk of sharp depreciation in Yuan exchange rate.



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.