China keeps policy rate constant for 3rd time in row

ISTANBUL

The Chinese central bank kept its policy interest rate constant on Wednesday, in line with market expectations, an official statement said.

The bank kept its one-year loan prime rate at 3% while the five-year loan prime rate was steady at 3.5%.

The bank has been keeping the rate at the same level since June, while in May it dropped the rate from 3.6%.

The country's annual inflation rate was at 0% in August, 0.1% in July, and minus 0.1% in June.