Chinese interest rates remain unchanged

» Published: September 20 2024

Chinese interest rates remain unchanged
Photo: Ng Han Guan AP/TT

Chinese banks are leaving their one- and five-year interest rates unchanged in September at 3.35 and 3.85 percent, respectively, according to a press release from China's central bank. This was in line with the average forecast among analysts, according to the news agency Bloomberg.

Prior to the announcement, China's central bank also refrained from adjusting its seven-day benchmark rate, despite recent interest rate cuts from other leading central banks in the world.

Many observers expect that monetary policy stimuli will soon be introduced in China after a period of unexpectedly weak economic development in the world's second-largest economy – which appears to be struggling to reach its target of 5 percent growth this year.

Bloomberg's economists expect the benchmark rate to be cut by 0.10 percentage points in the fourth quarter of this year, which would give the country's banks more room to lower their interest rates.

Tags

TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Swedish Manufacturing Growth Continues Despite
1 MIN READ

Swedish Manufacturing Growth Continues Despite Global Challenges

Positive Outlook for Harvest Season
1 MIN READ

Positive Outlook for Harvest Season Despite Challenges Ahead

Experts Praise Industry Deal Reached
1 MIN READ

Experts Praise Industry Deal Reached in Challenging Global Climate

Stockholm Stock Exchange Shows Signs
1 MIN READ

Stockholm Stock Exchange Shows Signs of Recovery as Futures Rise

Gold Prices Hit Record High
1 MIN READ

Gold Prices Hit Record High as Tariff Decision Looms

Australian Central Bank Holds Rates
1 MIN READ

Australian Central Bank Holds Rates Steady, Signals Caution on Inflation

Bankruptcies Rise Again with Hotels
1 MIN READ

Bankruptcies Rise Again with Hotels and Restaurants Hit Hardest

Asian Markets Rebound as Investors
1 MIN READ

Asian Markets Rebound as Investors Await Tariff News

Trump's Global Car Tariffs Begin
3 MIN READ

Trump's Global Car Tariffs Begin as Broader Trade Measures Loom

Open AI Secures Record 400
1 MIN READ

Open AI Secures Record 400 Billion Kronor Investment Boost

Swedish Industry Reaches 6.4 Percent
2 MIN READ

Swedish Industry Reaches 6.4 Percent Wage Agreement Over Two Years

Genre image
1 MIN READ

Swedish Industry Sets 6.4 Percent Wage Increase in New Agreement

US Stock Markets Mostly Rise
1 MIN READ

US Stock Markets Mostly Rise Despite Tariff Concerns

EU Stands Firm Against Trump's
2 MIN READ

EU Stands Firm Against Trump's Tariff Threats, Says Swedish Minister

Latvia Secures 2.1 Billion Kronor
1 MIN READ

Latvia Secures 2.1 Billion Kronor Deal with Saab for Air Defense Systems

Renault Acquires Full Ownership of
1 MIN READ

Renault Acquires Full Ownership of Renault Nissan Automotive India

1,700 Jobs Saved as Northvolt
2 MIN READ

1,700 Jobs Saved as Northvolt Navigates Bankruptcy in Sweden

Swedish Pension Saver Loses Appeal
1 MIN READ

Swedish Pension Saver Loses Appeal in Falcon Funds Fraud Case

Huawei Reports First Quarterly Loss
1 MIN READ

Huawei Reports First Quarterly Loss in Years Following Sanctions

France Fines Apple 150 Million
1 MIN READ

France Fines Apple 150 Million Euros for Competition Violations

Maurel & Prom Shares Drop
1 MIN READ

Maurel & Prom Shares Drop 15 Percent After Venezuela License Revoked

Norwegian Oil Fund Invests 1.4
1 MIN READ

Norwegian Oil Fund Invests 1.4 Billion Euro in Offshore Wind Projects

Sweden's Wage Talks Reach Critical
1 MIN READ

Sweden's Wage Talks Reach Critical Stage as Deadline Looms

Sweden Leads Nordic Region in
1 MIN READ

Sweden Leads Nordic Region in Money Laundering, Report Finds

Swiss Varo Energy to Acquire
1 MIN READ

Swiss Varo Energy to Acquire Swedish Fuel Company Preem

German Inflation Drop Signals Potential
2 MIN READ

German Inflation Drop Signals Potential ECB Rate Cut in April

Half of Retrained Workers Shift
1 MIN READ

Half of Retrained Workers Shift to New Industries, CSN Reports

EQT-Backed Omega II Bids 54.9
1 MIN READ

EQT-Backed Omega II Bids 54.9 Billion Kronor for Fortnox

Food Prices Continue to Climb,
3 MIN READ

Food Prices Continue to Climb, but Major Increases May Be Over

Stockholm Stock Exchange Drops as
2 MIN READ

Stockholm Stock Exchange Drops as Trump's Tariff Plans Rattle Markets

Tokyo Stocks Drop Sharply as
1 MIN READ

Tokyo Stocks Drop Sharply as Trump Tariffs Loom

Trump and Starmer Discuss Progress
1 MIN READ

Trump and Starmer Discuss Progress on US-UK Trade Deal

Håkan Samuelsson Returns as Volvo
2 MIN READ

Håkan Samuelsson Returns as Volvo Cars CEO to Drive Electric Future

Security Fund Reports Fewer Layoffs,
2 MIN READ

Security Fund Reports Fewer Layoffs, Sees Hope for Skilled Workers

South Korea, China, Japan Collaborate
1 MIN READ

South Korea, China, Japan Collaborate to Boost Free Trade

Trump's Diversity Order Faces Pushback
1 MIN READ

Trump's Diversity Order Faces Pushback from European Companies

Sweden Seeks to Shield Key
2 MIN READ

Sweden Seeks to Shield Key Goods from EU-US Tariff Clash

Weekend Push for New Industrial
2 MIN READ

Weekend Push for New Industrial Agreement as Deadline Looms

Swedes Opt for Europe as
3 MIN READ

Swedes Opt for Europe as US Travel Bookings Drop 30 Percent

Energy Efficiency Boosts Villa Prices
1 MIN READ

Energy Efficiency Boosts Villa Prices in Sweden's Real Estate Market