China Keeps Loan Prime Rates Unchanged

The People's Bank of China (PBoC) has decided to keep loan prime rates constant, according to a statement on Monday.

The bank has kept unchanged one-year and five-year loan prime rates at 3.45% and 3.95%, respectively.

The PBoC has lowered the one-year rate from 3.55% in August 2023 and has been keeping the rate at the same level for the last eight monetary policy meetings.

Five-year rate, which was at 4.2% in January 2024, dropped to 3.95% in February, and stayed at the same level for the last two meetings. -