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China leaves lending benchmarks unchanged amid global rates squeeze
China kept its benchmark lending rates unchanged at a monthly fixing on Tuesday, as expected, as authorities appeared to hold off immediate monetary easing following rapid declines in the local currency and as central banks elsewhere tightened policy.The decision came just days ahead of the Federal Reserve’s September policy meeting, at which the U.S. central bank is widely expected to deliver another hawkish interest rate hike to stem rampant price rises. Widening divergence in the monetary policies of the world’s two largest economies could stoke fears of capital flight out of China, just as Beijing seeks to ... (full story)
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