NewsChina Keeps Benchmark Lending Rates Steady, Matching Forecast

China Keeps Benchmark Lending Rates Steady, Matching Forecast

20.06.2024 11:42

People's Bank of China leaves 1 and 5 year loan prime rates unchanged at 3.45% and 3.95% respectively.

The People's Bank of China on Thursday left benchmark lending rates unchanged at record lows, aligning with market expectations.

The one-year loan prime rate (LPR), the medium-term lending facility used for most corporate and household loans – stands at 3.45% while the five-year LPR, the peg for mortgages, remains 3.95%.

Earlier this week, the bank held the 1-year medium-term lending facility rate steady at 2.5% for the tenth month. -

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