China: Central bank kept its interest rates unchanged in fear of Trump’s tariffs

Its central bank has left its main basics unchanged. The one-year reference rate (LPR) remains at 3.1%, the People’s Bank of China (PBOC) announced on Wednesday. The five-year LPR, which many banks use as a benchmark when granting long-term loans, also remains unchanged at 3.6%. The decision was in line with market expectations, as recent interest rate cuts have affected bank profitability and Wan is under pressure as investors fear higher tariffs on Chinese products after Donald Trump’s return to the White House.