China stays tuned on interest rates just hours after the Fed cuts rates, despite signs of slowing growth.

The People's Bank of China ( kept the key interest rate unchanged at 1.40% despite the Federal Reserve of America lowering interest rates, indicating a cautious approach to the economic downturn. This decision was made after strong exports and the bounce back of the stock market alleviated pressure for economic stimulus.

Analysts predict a loosening, but with the pace of the decline lower than expected and exports still strong, the PBOC has chosen to delay strong measures. Although there may be a loosening by the end of this year, especially in the fourth quarter, the government remains focused on long-term reforms. Additionally, China's rare earth exports surged in August, a significant event ahead of the meeting between American and Chinese leaders.