China refrained from an interest rate cut on Monday despite the economic challenges as such a move would go against the hawkish stance of global central banks and pose a threat of capital outflow.
After a reduction in May, the People's Bank of China left the five-year loan prime rate or LPR, the benchmark for mortgage rates, unchanged at 4.45 percent.
The rate was lowered by a record 15 basis points in May and by five basis points in January.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.