# World’s two largest economies diverge as China leaves key interest rate unchanged in wake of US Fed cut | South China Morning Post

> China's central bank left its benchmark interest rates unchanged on September 27, a day after the US Federal Reserve raised rates. Beijing aims to keep borrowing costs low to support growth amid the ongoing trade war with the US.

- Date: 2018-09-27 · published 2018-09-27T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/63271-world-s-two-largest-economies-diverge-as-china-leaves-key-interest-rate
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

The gap between US and Chinese rates widens capital outflow pressure on the yuan, which can make dollar-priced US feed commodities costlier for Chinese buyers.

## Read by commodity

- DXY: bullish ▲
- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-05-02 | [In Asia, US dollar’s growing strength gives rise to stability concerns, suspected rate intervention \| South China Morning Post](https://feedsoft.ai/events/5875-in-asia-us-dollar-s-growing-strength-gives-rise-to-stability-concerns-suspected.md) | -0.3% | +0.1% |
| USDCNY | 2022-05-05 | [US Fed rate hike: how can China stem capital outflow and prop up the yuan? \| South China Morning Post](https://feedsoft.ai/events/8315-us-fed-rate-hike-how-can-china-stem-capital-outflow-and-prop-up-the-yuan-south.md) | +1.7% | +0.8% |
| USDCNY | 2024-06-28 | [China’s central bank puts the yuan’s exchange-rate swings in crosshairs \| South China Morning Post](https://feedsoft.ai/events/30006-china-s-central-bank-puts-the-yuan-s-exchange-rate-swings-in-crosshairs-south.md) | -0.0% | -0.3% |
| USDCNY | 2017-01-03 | [Yuan starts 2017 weaker after PBOC cuts fixing by most in two weeks \| South China Morning Post](https://feedsoft.ai/events/10250-yuan-starts-2017-weaker-after-pboc-cuts-fixing-by-most-in-two-weeks-south-china.md) | -0.1% | -1.0% |
| USDCNY | 2018-06-29 | [Offshore yuan drops faster than onshore currency as trade war fears, central bank policies spook international investors \| South China Morning Post](https://feedsoft.ai/events/64732-offshore-yuan-drops-faster-than-onshore-currency-as-trade-war-fears-central.md) | +0.2% | +2.8% |
| DXY | 2017-09-18 | [Dollar hits seven week high against the yen as Fed meeting on US interest rates eyed \| South China Morning Post](https://feedsoft.ai/events/69174-dollar-hits-seven-week-high-against-the-yen-as-fed-meeting-on-us-interest-rates.md) | +0.4% | +2.1% |
| DXY | 2025-10-31 | [ECB leaves interest rates unchanged citing a resilient economy - OFX (US)](https://feedsoft.ai/events/22632-ecb-leaves-interest-rates-unchanged-citing-a-resilient-economy-ofx-us.md) | +0.3% | -0.2% |
| DXY | 2024-05-02 | [In Asia, US dollar’s growing strength gives rise to stability concerns, suspected rate intervention \| South China Morning Post](https://feedsoft.ai/events/5875-in-asia-us-dollar-s-growing-strength-gives-rise-to-stability-concerns-suspected.md) | -0.7% | -0.9% |

## Sources

- scmp.com: https://www.scmp.com/economy/china-economy/article/2166008/worlds-two-largest-economies-diverge-china-leaves-key-interest

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.