China Leaves Policy Rate Unchanged After Fed Rate Reduction

China's central bank left a key interest rate unchanged on Thursday, as authorities appear in no rush to ease monetary settings despite the U.S. Federal Reserve's decision to reduce rates just hours earlier.

Resilient exports and a sharp stock market rally have allowed policymakers to withhold fresh stimulus, market watchers said, even with a broader economic slowdown.

"Although the economy is slowing as expected, the magnitude of the deceleration appears not as big as we assumed," Hui Shan, chief China economist at Goldman Sachs, said in a note...

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