China holds lending rates steady, but cash remains stuck in banks

PBOC resists easing while raising upper limit on foreign currency funding

20230720N Yuan

The yuan has depreciated against the dollar this year as a result of China's sluggish exports and slow economic recovery. © Reuters

IORI KAWATE, Nikkei staff writer

BEIJING -- China's central bank left key lending rates unchanged Thursday after making cuts in June, but market players anticipate additional monetary easing measures as uneasy consumers keep their money in savings.

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