Torn between weak yuan and property market, China holds rates steady

Policymakers may resort to rate cuts as economy slows

20221121N yuan

Up to now, China policymakers have favored directing liquidity to the struggling property market over broad tax cuts. © Reuters

IORI KAWATE, Nikkei staff writer

BEIJING -- China kept benchmark interest rates unchanged for a third straight month on Monday, holding off on cuts that could risk dragging down the yuan, though some question how long this will continue.

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