China hits pause on lending rates again, despite economic bumps
China's central bank just kept its main lending rates steady for the sixth month straight—so borrowing costs aren't budging.
The one-year rate stays at 3.0%, and the five-year at 3.5%.
This move comes after an agreement last month between the US and China, which included tariff cuts and promises from Beijing to crack down on fentanyl.
Why play it safe?
Even though China's economy is feeling the pinch—with exports and retail sales dropping last month—the central bank isn't rushing to make big changes.
Fewer new loans suggest people and businesses are holding back because things feel uncertain.
For now, officials are sticking with their "cross-cyclical" strategy to keep things stable, and Goldman Sachs economist Xinquan Chen expects any major policy shift will have to wait until early next year.