The People's Bank of China kept interest rates unchanged during this June at 3.7% for one year and 4.45% for five years, in a move that was expected by most investors. .
The Chinese central bank cut interest rates for one year during the months of November and December of last year by 5 basis points each, to reach 3.7%, which will continue at this level. So far.
It is reported that most of the major central banks around the world have raised interest rates in line with the US Federal Reserve's decision, which came in light of a violent inflation wave hitting the United States and Europe.
